Stiles Financial Services Inc Sells 952 Shares of Blackstone Inc. (NYSE:BX)

Stiles Financial Services Inc trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 6.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 13,681 shares of the asset manager’s stock after selling 952 shares during the quarter. Stiles Financial Services Inc’s holdings in Blackstone were worth $2,359,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BX. Bangor Savings Bank raised its holdings in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the last quarter. Hager Investment Management Services LLC bought a new position in Blackstone in the 4th quarter worth $28,000. Berbice Capital Management LLC purchased a new stake in Blackstone in the fourth quarter worth about $34,000. Raleigh Capital Management Inc. lifted its position in shares of Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new position in Blackstone during the fourth quarter valued at approximately $39,000. Institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on BX. Evercore ISI upped their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price objective for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Cowen reiterated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Piper Sandler boosted their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Finally, BMO Capital Markets increased their target price on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $172.38.

Blackstone Trading Down 2.5 %

NYSE BX opened at $170.11 on Monday. The stock has a market cap of $122.82 billion, a PE ratio of 46.86, a PEG ratio of 1.13 and a beta of 1.53. The company’s 50-day moving average price is $178.36 and its 200-day moving average price is $163.62. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Equities research analysts forecast that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be issued a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is currently 94.77%.

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.