Canvas Wealth Advisors LLC Sells 65 Shares of Blackstone Inc. (NYSE:BX)

Canvas Wealth Advisors LLC reduced its position in shares of Blackstone Inc. (NYSE:BX) by 4.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,352 shares of the asset manager’s stock after selling 65 shares during the quarter. Canvas Wealth Advisors LLC’s holdings in Blackstone were worth $233,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BX. International Assets Investment Management LLC increased its stake in shares of Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares during the last quarter. Jennison Associates LLC raised its stake in Blackstone by 111.1% in the fourth quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock valued at $167,825,000 after buying an additional 512,165 shares during the period. Castleark Management LLC acquired a new position in shares of Blackstone during the 3rd quarter worth approximately $67,472,000. State Street Corp boosted its position in Blackstone by 1.2% during the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after purchasing an additional 348,751 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Blackstone by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after buying an additional 336,308 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BX. JPMorgan Chase & Co. raised their price objective 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. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. BMO Capital Markets upped their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, The Goldman Sachs Group increased their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average target price of $172.38.

Blackstone Price Performance

Shares of NYSE:BX opened at $170.11 on Monday. The firm has a 50 day simple moving average of $178.36 and a 200 day simple moving average of $163.62. The company has a market cap of $122.82 billion, a price-to-earnings ratio of 46.86, a PEG ratio of 1.13 and a beta of 1.53. 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 one year low of $115.82 and a one year high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly 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 return on equity of 19.58% and a net margin of 20.99%. Research analysts predict that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be given a dividend of $1.44 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s dividend payout ratio (DPR) 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.