Axxcess Wealth Management LLC Has $10.01 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Axxcess Wealth Management LLC lessened its holdings in Blackstone Inc. (NYSE:BX) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 58,033 shares of the asset manager’s stock after selling 1,463 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Blackstone were worth $10,006,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Bangor Savings Bank increased its holdings in shares of 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 purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new position in shares of Blackstone during the fourth quarter worth $28,000. Centricity Wealth Management LLC bought a new position in shares of Blackstone during the fourth quarter worth $30,000. Berbice Capital Management LLC bought a new position in shares of Blackstone during the fourth quarter worth $34,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Blackstone during the fourth quarter worth $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

BX stock opened at $147.67 on Tuesday. The company has a 50 day simple moving average of $165.35 and a 200 day simple moving average of $167.26. The stock has a market cap of $107.72 billion, a price-to-earnings ratio of 40.68, a P/E/G ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. 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 quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping 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%. Research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s dividend payout ratio is 158.68%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BX shares. UBS Group upgraded shares of Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Monday. JPMorgan Chase & Co. lifted their price target on shares of Blackstone from $149.00 to $154.00 and gave the company 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 lifted their price target for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Citigroup restated a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Finally, StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.