Blackstone Inc. (NYSE:BX) is Kimelman & Baird LLC’s 6th Largest Position

Kimelman & Baird LLC trimmed its stake in Blackstone Inc. (NYSE:BX) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 320,103 shares of the asset manager’s stock after selling 7,314 shares during the quarter. Blackstone comprises 4.4% of Kimelman & Baird LLC’s portfolio, making the stock its 6th largest position. Kimelman & Baird LLC’s holdings in Blackstone were worth $55,192,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Sather Financial Group Inc lifted its position in Blackstone by 202.5% during the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after buying an additional 4,050 shares in the last quarter. Aljian Capital Management LLC acquired a new position in Blackstone during the third quarter valued at approximately $1,951,000. Icon Wealth Advisors LLC lifted its position in Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after buying an additional 18,117 shares in the last quarter. Wealthcare Capital Partners LLC acquired a new position in Blackstone during the fourth quarter valued at approximately $2,102,000. Finally, Highland Capital Management LLC lifted its position in Blackstone by 214.2% during the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock valued at $3,845,000 after buying an additional 15,205 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BX. Wells Fargo & Company reduced their price target on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. BMO Capital Markets boosted their target price on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Piper Sandler boosted their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and boosted their target price for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average target price of $172.38.

Blackstone Stock Up 3.3 %

BX stock opened at $141.01 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The firm has a fifty day moving average price of $165.90 and a two-hundred day moving average price of $167.21. The firm has a market cap of $102.86 billion, a price-to-earnings ratio of 38.85, a PEG ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were issued a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is 158.68%.

Insider Buying and Selling

In other news, Director Ruth Porat acquired 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Blackstone Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.