Good Life Advisors LLC Has $1.96 Million Holdings in Blackstone Inc. (NYSE:BX)

Good Life Advisors LLC lowered its position in shares of Blackstone Inc. (NYSE:BX) by 2.5% during the fourth quarter, Holdings Channel reports. The fund owned 11,343 shares of the asset manager’s stock after selling 290 shares during the quarter. Good Life Advisors LLC’s holdings in Blackstone were worth $1,956,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BX. International Assets Investment Management LLC raised its holdings in shares of Blackstone by 15,357.3% during the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after acquiring an additional 4,173,971 shares during the period. Jennison Associates LLC increased its stake in Blackstone by 111.1% in the 4th quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock valued at $167,825,000 after buying an additional 512,165 shares during the period. Castleark Management LLC acquired a new position in Blackstone in the 3rd quarter valued at approximately $67,472,000. State Street Corp increased its stake in Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after buying an additional 348,751 shares during the period. Finally, Geode Capital Management LLC increased its stake in Blackstone by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after buying an additional 336,308 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped 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. Wells Fargo & Company decreased their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Piper Sandler boosted their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Barclays decreased their target price on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. 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 research report on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Blackstone has an average rating of “Hold” and an average target price of $172.38.

Blackstone Price Performance

NYSE:BX opened at $166.59 on Wednesday. The stock has a market cap of $120.28 billion, a P/E ratio of 45.89, a PEG ratio of 1.07 and a beta of 1.53. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a fifty day moving average price of $175.23 and a 200 day moving average price of $165.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last released its 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 net margin of 20.99% and a return on equity of 19.58%. Analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.46%. Blackstone’s dividend payout ratio is currently 158.68%.

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.