Neville Rodie & Shaw Inc. Has $17.68 Million Stake in Blackstone Inc. $BX

Neville Rodie & Shaw Inc. reduced its stake in Blackstone Inc. (NYSE:BX) by 16.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,711 shares of the asset manager’s stock after selling 22,607 shares during the period. Blackstone comprises approximately 1.2% of Neville Rodie & Shaw Inc.’s investment portfolio, making the stock its 22nd largest position. Neville Rodie & Shaw Inc.’s holdings in Blackstone were worth $17,681,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BX. REAP Financial Group LLC bought a new stake in shares of Blackstone during the third quarter worth $26,000. Traub Capital Management LLC bought a new position in shares of Blackstone in the 2nd quarter valued at $27,000. Redmont Wealth Advisors LLC bought a new stake in Blackstone during the 3rd quarter worth $30,000. Strive Asset Management LLC acquired a new position in Blackstone in the 3rd quarter worth about $30,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of Blackstone during the third quarter valued at about $34,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BX. BMO Capital Markets lowered their price objective on Blackstone from $180.00 to $165.00 and set an “outperform” rating for the company in a research note on Monday, February 2nd. Citigroup reissued a “market outperform” rating on shares of Blackstone in a report on Friday, January 30th. TD Cowen dropped their price target on shares of Blackstone from $183.00 to $164.00 and set a “buy” rating for the company in a research note on Thursday, February 12th. Bank of America reduced their price objective on shares of Blackstone from $199.00 to $189.00 in a research note on Wednesday, December 10th. Finally, HSBC lowered their target price on Blackstone from $178.00 to $174.00 and set a “hold” rating for the company in a research report on Wednesday, January 28th. Eleven investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $165.86.

Blackstone Trading Down 0.1%

NYSE:BX opened at $113.46 on Friday. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.76 and a current ratio of 0.76. The firm’s fifty day moving average is $131.10 and its 200-day moving average is $148.91. The firm has a market cap of $84.21 billion, a P/E ratio of 29.24, a P/E/G ratio of 0.90 and a beta of 1.79.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.21. The business had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $3.69 billion. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. During the same quarter last year, the firm earned $1.69 earnings per share. Blackstone’s quarterly revenue was up 41.4% on a year-over-year basis. Equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were given a dividend of $1.49 per share. This represents a $5.96 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Monday, February 9th. This is a positive change from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s dividend payout ratio is currently 153.61%.

Insiders Place Their Bets

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 1,146,789 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were bought at an average price of $26.16 per share, for a total transaction of $30,000,000.24. Following the acquisition, the insider directly owned 16,716,249 shares of the company’s stock, valued at approximately $437,297,073.84. This trade represents a 7.37% increase in their position. The SEC filing for this purchase provides additional information. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.