Cassaday & Co Wealth Management LLC Sells 92 Shares of Blackstone Inc. (NYSE:BX)

Cassaday & Co Wealth Management LLC decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,718 shares of the asset manager’s stock after selling 92 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Blackstone were worth $641,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Bangor Savings Bank lifted its stake in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the period. Hager Investment Management Services LLC purchased a new position in Blackstone during the fourth quarter valued at $28,000. Centricity Wealth Management LLC bought a new stake in shares of Blackstone during the 4th quarter valued at $30,000. Berbice Capital Management LLC bought a new position in shares of Blackstone in the 4th quarter worth about $34,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in Blackstone during the fourth quarter worth about $34,000. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BX shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Citigroup lifted their price objective on Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Piper Sandler raised their price target on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. UBS Group increased their target price on Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Finally, TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their price target for the company from $149.00 to $230.00 in a report on Monday, December 9th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $172.38.

Blackstone Price Performance

Shares of Blackstone stock opened at $158.21 on Friday. Blackstone Inc. has a 52 week low of $115.82 and a 52 week 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’s 50-day simple moving average is $173.58 and its 200-day simple moving average is $165.23. The company has a market capitalization of $114.23 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 1.09 and a beta of 1.53.

Blackstone (NYSE:BX) last announced 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 net margin of 20.99% and a return on equity of 19.58%. As a group, analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a $1.44 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a yield of 3.64%. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

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.