Fishman Jay A Ltd. MI Sells 6,593 Shares of Blackstone Inc. (NYSE:BX)

Fishman Jay A Ltd. MI trimmed its stake in shares of Blackstone Inc. (NYSE:BX) by 1.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 416,300 shares of the asset manager’s stock after selling 6,593 shares during the quarter. Blackstone comprises about 6.7% of Fishman Jay A Ltd. MI’s portfolio, making the stock its 4th biggest holding. Fishman Jay A Ltd. MI’s holdings in Blackstone were worth $71,778,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Bangor Savings Bank boosted its holdings in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in Blackstone in the fourth quarter valued at about $28,000. Berbice Capital Management LLC acquired a new position in Blackstone during the fourth quarter worth about $34,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Blackstone in the 4th quarter valued at approximately $34,000. Finally, Raleigh Capital Management Inc. increased its position in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. 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 note on Thursday, December 19th. Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Bank of America boosted their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Citigroup raised their price objective on shares of Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average price target of $172.38.

Blackstone Stock Performance

BX stock opened at $164.80 on Wednesday. The stock has a 50-day moving average price of $177.99 and a 200-day moving average price of $164.00. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The firm has a market cap of $118.98 billion, a PE ratio of 45.40, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. 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 quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts expect that Blackstone Inc. will post 5.88 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is 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.