L.M. Kohn & Company Has $2.25 Million Stake in Blackstone Inc. (NYSE:BX)

L.M. Kohn & Company cut its position in Blackstone Inc. (NYSE:BX) by 2.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,020 shares of the asset manager’s stock after selling 260 shares during the period. L.M. Kohn & Company’s holdings in Blackstone were worth $2,245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bangor Savings Bank raised its position in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at about $28,000. Berbice Capital Management LLC acquired a new position in shares of Blackstone in the fourth quarter worth approximately $34,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Blackstone during the 4th quarter valued at approximately $34,000. Finally, Roxbury Financial LLC acquired a new position in shares of Blackstone in the 4th quarter worth approximately $34,000. 70.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BX. BMO Capital Markets lifted 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. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and boosted their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $172.38.

Blackstone Stock Up 2.9 %

Shares of NYSE:BX opened at $165.09 on Friday. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock has a market cap of $119.19 billion, a price-to-earnings ratio of 45.48, a PEG ratio of 1.13 and a beta of 1.53. The business’s 50 day moving average is $176.09 and its 200 day moving average is $164.28.

Blackstone (NYSE:BX) last issued its quarterly 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 return on equity of 19.58% and a net margin of 20.99%. On average, sell-side analysts forecast that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

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