Choreo LLC Sells 11,987 Shares of Blackstone Inc. (NYSE:BX)

Choreo LLC reduced its position in shares of Blackstone Inc. (NYSE:BX) by 8.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 130,979 shares of the asset manager’s stock after selling 11,987 shares during the quarter. Choreo LLC’s holdings in Blackstone were worth $22,539,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of BX. West Financial Advisors LLC bought a new stake in Blackstone in the 3rd quarter valued at $27,000. Bangor Savings Bank boosted its holdings in Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the period. Hager Investment Management Services LLC bought a new stake in Blackstone in the 4th quarter valued at $28,000. Berbice Capital Management LLC bought a new stake in Blackstone in the 4th quarter valued at $34,000. Finally, Raleigh Capital Management Inc. raised its stake in shares of Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Down 1.5 %

Shares of NYSE:BX opened at $170.86 on Wednesday. The firm has a market cap of $123.36 billion, a P/E ratio of 47.07, a P/E/G ratio of 1.18 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 12 month low of $115.82 and a 12 month high of $200.96. The company’s 50-day moving average price is $179.34 and its two-hundred day moving average price is $163.11.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share 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%. As a group, research analysts forecast that Blackstone Inc. will post 5.86 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be issued a $1.44 dividend. The ex-dividend date is Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.37%. Blackstone’s dividend payout ratio (DPR) is 94.77%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BX shares. Wells Fargo & Company dropped their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Bank of America increased their price objective on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Barclays dropped their price objective on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Evercore ISI increased their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $172.38.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Blackstone 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.