Concurrent Investment Advisors LLC Has $4.50 Million Stake in Blackstone Inc. (NYSE:BX)

Concurrent Investment Advisors LLC lessened its position in Blackstone Inc. (NYSE:BX) by 23.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,108 shares of the asset manager’s stock after selling 7,976 shares during the period. Concurrent Investment Advisors LLC’s holdings in Blackstone were worth $4,501,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in Blackstone by 50.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 144,781 shares of the asset manager’s stock worth $22,170,000 after acquiring an additional 48,601 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in shares of Blackstone by 30.3% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 4,949 shares of the asset manager’s stock valued at $758,000 after buying an additional 1,150 shares in the last quarter. Greenleaf Trust lifted its position in Blackstone by 27.1% during the 3rd quarter. Greenleaf Trust now owns 5,911 shares of the asset manager’s stock worth $905,000 after buying an additional 1,262 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC lifted its holdings in Blackstone by 47.7% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 27,078 shares of the asset manager’s stock worth $4,147,000 after buying an additional 8,749 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of research reports. UBS Group lifted their price objective on Blackstone from $170.00 to $180.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their price objective on shares of Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Citigroup boosted their price objective on shares of Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $172.38.

Blackstone Stock Down 1.8 %

NYSE:BX opened at $163.83 on Friday. The firm has a market capitalization of $118.28 billion, a price-to-earnings ratio of 45.13, a price-to-earnings-growth ratio of 1.09 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The stock’s 50 day moving average price is $174.18 and its two-hundred day moving average price is $165.03.

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 the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Equities research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.52%. Blackstone’s dividend payout ratio is currently 158.68%.

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.