Rhumbline Advisers Sells 9,373 Shares of Blackstone Inc. (NYSE:BX)

Rhumbline Advisers reduced its holdings in Blackstone Inc. (NYSE:BX) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,296,997 shares of the asset manager’s stock after selling 9,373 shares during the period. Rhumbline Advisers’ holdings in Blackstone were worth $223,628,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BX. Glen Eagle Advisors LLC boosted its holdings in shares of Blackstone by 1.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after purchasing an additional 59 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its stake in Blackstone by 0.4% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock valued at $2,790,000 after buying an additional 59 shares in the last quarter. Investmark Advisory Group LLC raised its stake in Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares in the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after purchasing an additional 62 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

Shares of NYSE BX opened at $165.09 on Friday. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The firm has a market capitalization of $119.20 billion, a P/E ratio of 45.48, a P/E/G ratio of 1.13 and a beta of 1.53. The firm’s 50-day moving average price is $176.53 and its 200-day moving average price is $164.11. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last released its quarterly earnings data 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 return on equity of 19.58% and a net margin of 20.99%. Equities research analysts anticipate that Blackstone Inc. will post 5.88 earnings per share for the current fiscal year.

Blackstone Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on BX. 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 note on Monday, December 23rd. The Goldman Sachs Group upped their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Citigroup boosted their price target on Blackstone from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. 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 report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods raised their target price on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $172.38.

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.