JRM Investment Counsel LLC Has $578,000 Position in Blackstone Inc. $BX

JRM Investment Counsel LLC cut its stake in shares of Blackstone Inc. (NYSE:BX) by 57.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,384 shares of the asset manager’s stock after selling 4,641 shares during the quarter. Blackstone accounts for about 0.2% of JRM Investment Counsel LLC’s portfolio, making the stock its 19th largest position. JRM Investment Counsel LLC’s holdings in Blackstone were worth $578,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. REAP Financial Group LLC bought a new position in Blackstone in the 3rd quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in Blackstone in the 3rd quarter valued at approximately $30,000. Traub Capital Management LLC bought a new position in shares of Blackstone during the second quarter valued at $27,000. Parvin Asset Management LLC bought a new stake in shares of Blackstone in the second quarter worth $35,000. Finally, Rexford Capital Inc. acquired a new stake in Blackstone in the second quarter valued at $35,000. Institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the topic of several analyst reports. Evercore reduced their target price on Blackstone from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, January 30th. UBS Group reduced their price objective on shares of Blackstone from $171.00 to $137.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Jefferies Financial Group lowered their target price on shares of Blackstone from $185.00 to $161.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Citigroup reiterated a “market outperform” rating on shares of Blackstone in a report on Friday, January 30th. Finally, BMO Capital Markets dropped their price objective on Blackstone from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Monday, February 2nd. Eleven equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.57.

Insiders Place Their Bets

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone acquired 1,146,789 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider owned 16,716,249 shares of the company’s stock, valued at approximately $437,297,073.84. This represents a 7.37% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. Following the sale, the insider owned 2,161 shares of the company’s stock, valued at approximately $21,610. This trade represents a 99.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.6%

NYSE:BX opened at $115.19 on Tuesday. Blackstone Inc. has a 52 week low of $109.25 and a 52 week high of $190.09. The firm has a 50-day moving average price of $143.13 and a two-hundred day moving average price of $154.03. The firm has a market cap of $85.06 billion, a price-to-earnings ratio of 29.69, a price-to-earnings-growth ratio of 0.97 and a beta of 1.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.75 and a current ratio of 0.76.

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

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were issued a $1.49 dividend. The ex-dividend date of this dividend was Monday, February 9th. This is an increase from Blackstone’s previous quarterly dividend of $1.29. This represents a $5.96 dividend on an annualized basis and a dividend yield of 5.2%. Blackstone’s dividend payout ratio is 153.61%.

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.