Blackstone Inc. (NYSE:BX) Shares Sold by Tranquility Partners LLC

Tranquility Partners LLC lowered its stake in Blackstone Inc. (NYSE:BX) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,752 shares of the asset manager’s stock after selling 1,288 shares during the period. Blackstone accounts for 4.8% of Tranquility Partners LLC’s portfolio, making the stock its 2nd largest position. Tranquility Partners LLC’s holdings in Blackstone were worth $12,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Carnegie Investment Counsel bought a new stake in Blackstone during the 3rd quarter worth about $220,000. Exchange Traded Concepts LLC raised its holdings in shares of Blackstone by 2,188.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,167 shares of the asset manager’s stock valued at $179,000 after purchasing an additional 1,116 shares during the period. CX Institutional raised its holdings in shares of Blackstone by 4.8% in the 3rd quarter. CX Institutional now owns 2,663 shares of the asset manager’s stock valued at $408,000 after purchasing an additional 122 shares during the period. Creative Planning raised its holdings in shares of Blackstone by 4.2% in the 3rd quarter. Creative Planning now owns 237,936 shares of the asset manager’s stock valued at $36,435,000 after purchasing an additional 9,668 shares during the period. Finally, CFM Wealth Partners LLC grew its stake in Blackstone by 21.8% in the 3rd quarter. CFM Wealth Partners LLC now owns 2,434 shares of the asset manager’s stock valued at $373,000 after buying an additional 435 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. UBS Group upped their price target on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Citigroup increased their target price on shares of Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and increased their target price for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Piper Sandler lifted their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average target price of $172.38.

Blackstone Trading Down 2.4 %

BX opened at $160.90 on Thursday. Blackstone Inc. has a 1-year low of $115.82 and a 1-year 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. The company has a market cap of $116.17 billion, a P/E ratio of 44.33, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53. The company has a fifty day moving average price of $177.56 and a two-hundred day moving average price of $164.16.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping 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%. Analysts predict that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be paid a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Monday, February 10th. Blackstone’s dividend payout ratio is presently 94.77%.

Blackstone Company 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.