Certuity LLC Sells 1,947 Shares of Blackstone Inc. (NYSE:BX)

Certuity LLC cut its stake in shares of Blackstone Inc. (NYSE:BX) by 34.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,735 shares of the asset manager’s stock after selling 1,947 shares during the quarter. Certuity LLC’s holdings in Blackstone were worth $644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Blackstone Stock Down 2.4 %

Shares of NYSE:BX opened at $160.90 on Thursday. 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 Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The firm has a market capitalization of $116.17 billion, a P/E ratio of 44.33, a P/E/G ratio of 1.13 and a beta of 1.53. The stock has a 50 day moving average price of $177.56 and a 200-day moving average price of $164.16.

Blackstone (NYSE:BX) last announced 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%. As a group, equities research analysts anticipate that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a $1.44 dividend. 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 is Monday, February 10th. Blackstone’s payout ratio is currently 94.77%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Piper Sandler boosted their target price on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. lifted their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Finally, Barclays lowered their price target on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average price target of $172.38.

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.