Tyler Stone Wealth Management Sells 479 Shares of Blackstone Inc. (NYSE:BX)

Tyler Stone Wealth Management lowered its stake in Blackstone Inc. (NYSE:BX) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,652 shares of the asset manager’s stock after selling 479 shares during the quarter. Blackstone accounts for 1.6% of Tyler Stone Wealth Management’s portfolio, making the stock its 14th largest position. Tyler Stone Wealth Management’s holdings in Blackstone were worth $8,733,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bangor Savings Bank raised its position in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after acquiring an additional 105 shares during the period. Hager Investment Management Services LLC purchased a new position in Blackstone during the fourth quarter valued at $28,000. Centricity Wealth Management LLC bought a new position in shares of Blackstone in the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Blackstone during the 4th quarter valued at approximately $33,000. Finally, Berbice Capital Management LLC bought a new stake in Blackstone during the 4th quarter worth approximately $34,000. 70.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BX has been the topic of several recent analyst reports. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Citigroup restated a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. Barclays reissued an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Wells Fargo & Company cut their price objective on shares of Blackstone from $180.00 to $160.00 and set an “equal weight” rating for the company in a report on Thursday, March 20th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $171.13.

Blackstone Stock Down 0.5 %

Shares of NYSE BX opened at $151.29 on Wednesday. The stock has a 50 day moving average price of $162.90 and a 200 day moving average price of $167.69. The firm has a market capitalization of $110.35 billion, a price-to-earnings ratio of 41.68, a PEG ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

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

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a $1.44 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.81%. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the purchase, the director now owns 36,829 shares of the company’s stock, 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 filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

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.