Jmac Enterprises LLC Trims Stock Position in Blackstone Inc. (NYSE:BX)

Jmac Enterprises LLC reduced its position in Blackstone Inc. (NYSE:BX) by 8.2% in the 4th quarter, Holdings Channel reports. The firm owned 5,600 shares of the asset manager’s stock after selling 500 shares during the period. Jmac Enterprises LLC’s holdings in Blackstone were worth $966,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Sather Financial Group Inc increased 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 valued at $926,000 after acquiring an additional 4,050 shares during the period. Portside Wealth Group LLC acquired a new position in Blackstone in the third quarter valued at $201,000. Aljian Capital Management LLC purchased a new position in shares of Blackstone during the third quarter worth about $1,951,000. Icon Wealth Advisors LLC raised its stake in Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after acquiring an additional 18,117 shares during the last quarter. Finally, Highland Capital Management LLC grew its stake in shares of Blackstone by 214.2% in the 4th 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 last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

BX opened at $164.80 on Wednesday. The company has a market capitalization of $118.98 billion, a P/E ratio of 45.40, a PEG ratio of 1.13 and a beta of 1.53. The company has a 50-day moving average of $177.99 and a 200-day moving average of $164.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings results 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%. Equities analysts expect that Blackstone Inc. will post 5.88 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Monday, February 10th will be given a dividend of $1.44 per share. The ex-dividend date is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.50%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is currently 94.77%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group increased their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Barclays lowered their target price on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. StockNews.com cut Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.