San Luis Wealth Advisors LLC Cuts Stock Position in Blackstone Inc. (NYSE:BX)

San Luis Wealth Advisors LLC decreased its holdings in Blackstone Inc. (NYSE:BX) by 48.7% in the fourth quarter, Holdings Channel reports. The firm owned 3,664 shares of the asset manager’s stock after selling 3,477 shares during the period. San Luis Wealth Advisors LLC’s holdings in Blackstone were worth $632,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. State Street Corp raised its stake in shares of Blackstone by 1.2% in the third quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after purchasing an additional 348,751 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Blackstone by 2.3% in the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after acquiring an additional 336,308 shares during the period. Wulff Hansen & CO. grew its holdings in Blackstone by 12,192.7% in the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after purchasing an additional 7,281,128 shares during the period. Legal & General Group Plc grew its stake in Blackstone by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after acquiring an additional 141,616 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after buying an additional 4,173,971 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on BX shares. Evercore ISI upped their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their price objective for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Piper Sandler lifted their price target on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. The Goldman Sachs Group raised their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Citigroup upped their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $169.56.

Blackstone Stock Performance

Shares of BX stock opened at $169.27 on Wednesday. The company’s fifty day moving average price is $180.70 and its two-hundred day moving average price is $157.59. Blackstone Inc. has a 12 month low of $114.88 and a 12 month high of $200.96. The firm has a market capitalization of $122.21 billion, a P/E ratio of 58.17, a P/E/G ratio of 1.63 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. The firm had revenue of $2.43 billion for 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, research analysts anticipate that Blackstone Inc. will post 4.43 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Insiders Place Their Bets

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by 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.