Blackstone Inc. (NYSE:BX) Stock Holdings Cut by Neville Rodie & Shaw Inc.

Neville Rodie & Shaw Inc. trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 179,460 shares of the asset manager’s stock after selling 602 shares during the quarter. Blackstone accounts for approximately 2.3% of Neville Rodie & Shaw Inc.’s portfolio, making the stock its 9th largest holding. Neville Rodie & Shaw Inc.’s holdings in Blackstone were worth $30,943,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB raised its stake in Blackstone by 8.8% in the 4th quarter. Nordea Investment Management AB now owns 58,229 shares of the asset manager’s stock valued at $10,053,000 after acquiring an additional 4,688 shares during the period. First Citizens Financial Corp bought a new stake in Blackstone in the 4th quarter valued at about $267,000. GAMMA Investing LLC raised its stake in Blackstone by 10.5% in the 4th quarter. GAMMA Investing LLC now owns 8,992 shares of the asset manager’s stock valued at $1,550,000 after acquiring an additional 855 shares during the period. Versant Capital Management Inc raised its stake in Blackstone by 7.8% in the 4th quarter. Versant Capital Management Inc now owns 2,586 shares of the asset manager’s stock valued at $446,000 after acquiring an additional 188 shares during the period. Finally, Independent Solutions Wealth Management LLC increased its position in shares of Blackstone by 3.0% during the third quarter. Independent Solutions Wealth Management LLC now owns 14,504 shares of the asset manager’s stock valued at $2,221,000 after buying an additional 425 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BX shares. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a research note on Wednesday, January 1st. Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Evercore ISI increased their price objective on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley upped their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Barclays upped their target price on Blackstone from $174.00 to $199.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Blackstone has an average rating of “Hold” and a consensus price target of $171.00.

Blackstone Stock Up 0.5 %

BX traded up $0.92 on Monday, hitting $176.83. 739,871 shares of the company were exchanged, compared to its average volume of 1,553,453. Blackstone Inc. has a twelve month low of $114.88 and a twelve month high of $200.96. The company has a market cap of $127.67 billion, a price-to-earnings ratio of 60.77, a price-to-earnings-growth ratio of 1.63 and a beta of 1.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $180.49 and a two-hundred day moving average price of $155.31.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, equities analysts predict that Blackstone Inc. will post 4.43 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a dividend of $0.86 per share. The ex-dividend date was Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.95%. Blackstone’s dividend payout ratio is currently 118.21%.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by company insiders.

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.