IHT Wealth Management LLC Has $1.67 Million Stock Position in Blackstone Inc. (NYSE:BX)

IHT Wealth Management LLC trimmed its position in Blackstone Inc. (NYSE:BX - Free Report) by 31.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,662 shares of the asset manager's stock after selling 4,506 shares during the quarter. IHT Wealth Management LLC's holdings in Blackstone were worth $1,666,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Blackstone by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager's stock valued at $11,533,972,000 after purchasing an additional 889,286 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Blackstone by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 15,341,300 shares of the asset manager's stock worth $2,637,266,000 after buying an additional 444,887 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Blackstone by 6.6% during the 4th quarter. Invesco Ltd. now owns 5,987,702 shares of the asset manager's stock valued at $1,032,400,000 after purchasing an additional 371,677 shares during the last quarter. Norges Bank acquired a new stake in Blackstone in the fourth quarter worth about $974,448,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Blackstone by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,045,143 shares of the asset manager's stock valued at $697,464,000 after purchasing an additional 113,732 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost 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 in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. UBS Group cut their price objective on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Cowen reissued a "buy" rating on shares of Blackstone in a report on Monday, April 21st. 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 increased their price objective on shares of Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $154.82.

Blackstone Stock Performance

Shares of NYSE BX traded up $0.80 during midday trading on Monday, hitting $132.73. 1,412,603 shares of the company's stock were exchanged, compared to its average volume of 3,755,171. The firm has a market cap of $96.81 billion, a P/E ratio of 36.49, a PEG ratio of 1.07 and a beta of 1.61. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The stock's 50 day moving average price is $141.56 and its 200-day moving average price is $164.19. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the firm earned $0.98 EPS. Equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Monday, April 28th. Blackstone's payout ratio is presently 112.05%.

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.