EverSource Wealth Advisors LLC Trims Stock Position in Blackstone Inc. (NYSE:BX)

EverSource Wealth Advisors LLC cut its holdings in Blackstone Inc. (NYSE:BX) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,578 shares of the asset manager’s stock after selling 191 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Blackstone were worth $9,065,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Sather Financial Group Inc grew its holdings in shares of Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after acquiring an additional 4,050 shares during the period. Aljian Capital Management LLC acquired a new position in Blackstone in the third quarter valued at $1,951,000. Icon Wealth Advisors LLC raised its position in Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares during the period. Wealthcare Capital Partners LLC purchased a new position in Blackstone in the fourth quarter valued at about $2,102,000. Finally, Highland Capital Management LLC raised its position in Blackstone by 214.2% in the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock valued at $3,845,000 after purchasing an additional 15,205 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BX shares. Wells Fargo & Company dropped their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Piper Sandler lifted their price target on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. JPMorgan Chase & Co. lifted their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Barclays reiterated an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Finally, Citigroup reiterated a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $172.38.

Insider Activity

In other Blackstone news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE BX opened at $138.02 on Wednesday. The stock has a fifty day moving average price of $167.98 and a two-hundred day moving average price of $167.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm has a market cap of $100.67 billion, a P/E ratio of 38.02, a PEG 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.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (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%. Research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is 158.68%.

About Blackstone

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.