Nicholas Hoffman & Company LLC. Has $312,000 Stock Position in Blackstone Inc. (NYSE:BX)

Nicholas Hoffman & Company LLC. decreased its holdings in Blackstone Inc. (NYSE:BX) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,812 shares of the asset manager’s stock after selling 249 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Blackstone were worth $312,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Tcfg Wealth Management LLC boosted its stake in shares of Blackstone by 4.4% in the 4th quarter. Tcfg Wealth Management LLC now owns 2,389 shares of the asset manager’s stock valued at $412,000 after purchasing an additional 101 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Blackstone during the fourth quarter valued at $19,477,000. Allworth Financial LP raised its position in shares of Blackstone by 34.6% in the 4th quarter. Allworth Financial LP now owns 36,461 shares of the asset manager’s stock worth $6,664,000 after acquiring an additional 9,375 shares in the last quarter. Principal Securities Inc. lifted its stake in shares of Blackstone by 6.9% in the 4th quarter. Principal Securities Inc. now owns 18,036 shares of the asset manager’s stock valued at $3,110,000 after purchasing an additional 1,171 shares during the period. Finally, Centerpoint Advisory Group acquired a new stake in Blackstone during the fourth quarter worth approximately $275,000. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Performance

NYSE:BX opened at $165.09 on Tuesday. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The business’s fifty day moving average is $176.09 and its 200 day moving average is $164.60. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm has a market cap of $119.19 billion, a price-to-earnings ratio of 45.48, a PEG ratio of 1.13 and a beta of 1.53.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating 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%. Research analysts predict that Blackstone Inc. will post 5.88 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a dividend of $1.44 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 3.49%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is 94.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price target on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and raised their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Wells Fargo & Company cut their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Barclays dropped their price target on Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price objective on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Blackstone currently has an average rating of “Hold” and an average price target of $172.38.

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.