Autumn Glory Partners LLC Decreases Stock Position in Blackstone Inc. (NYSE:BX)

Autumn Glory Partners LLC cut its position in Blackstone Inc. (NYSE:BX) by 50.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,970 shares of the asset manager’s stock after selling 1,970 shares during the quarter. Autumn Glory Partners LLC’s holdings in Blackstone were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BX. Bangor Savings Bank raised its holdings in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring 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 $28,000. Berbice Capital Management LLC acquired a new stake in Blackstone in the fourth quarter valued at $34,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Blackstone in the fourth quarter valued at $34,000. Finally, Raleigh Capital Management Inc. raised its holdings in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Performance

NYSE:BX opened at $165.09 on Friday. Blackstone Inc. has a twelve month low of $115.82 and a twelve month 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 50-day moving average of $176.53 and a 200-day moving average of $164.11. The firm has a market cap of $119.20 billion, a price-to-earnings ratio of 45.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last posted its quarterly earnings data 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%. Analysts forecast that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.44 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.49%. The ex-dividend date is Monday, February 10th. Blackstone’s payout ratio is 158.68%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BX shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their target price on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Piper Sandler increased their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Bank of America increased their price objective on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and an average price target of $172.38.

About Blackstone

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.