Blackstone Inc. (NYSE:BX) Stock Holdings Lessened by 1ST Source Bank

1ST Source Bank lowered its stake in shares of Blackstone Inc. (NYSE:BXFree Report) by 2.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 34,089 shares of the asset manager’s stock after selling 734 shares during the period. 1ST Source Bank’s holdings in Blackstone were worth $3,652,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in BX. Coppell Advisory Solutions LLC acquired a new position in Blackstone in the second quarter worth about $25,000. Halpern Financial Inc. increased its holdings in shares of Blackstone by 327.1% during the third quarter. Halpern Financial Inc. now owns 252 shares of the asset manager’s stock worth $27,000 after buying an additional 193 shares in the last quarter. AM Squared Ltd acquired a new stake in shares of Blackstone during the second quarter worth approximately $28,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of Blackstone during the third quarter worth approximately $33,000. Finally, Family CFO Inc acquired a new stake in shares of Blackstone during the third quarter worth approximately $33,000. Institutional investors and hedge funds own 63.35% of the company’s stock.

Blackstone Stock Up 2.2 %

Shares of NYSE:BX traded up $2.83 during midday trading on Monday, reaching $130.51. 1,932,833 shares of the company were exchanged, compared to its average volume of 3,591,077. Blackstone Inc. has a fifty-two week low of $76.19 and a fifty-two week high of $133.53. The company has a quick ratio of 0.84, a current ratio of 0.80 and a debt-to-equity ratio of 0.67. The stock has a fifty day simple moving average of $123.13 and a two-hundred day simple moving average of $110.48. The firm has a market cap of $92.73 billion, a PE ratio of 69.77, a P/E/G ratio of 3.16 and a beta of 1.52.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same period last year, the business posted $1.07 earnings per share. As a group, sell-side analysts forecast that Blackstone Inc. will post 4.95 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 12th. Shareholders of record on Monday, February 5th will be paid a $0.94 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.80. This represents a $3.76 annualized dividend and a yield of 2.88%. The ex-dividend date is Friday, February 2nd. Blackstone’s payout ratio is presently 205.46%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BX shares. Piper Sandler reissued an “overweight” rating and set a $150.00 price target on shares of Blackstone in a research note on Wednesday, December 20th. Keefe, Bruyette & Woods increased their price target on shares of Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. BMO Capital Markets increased their price target on shares of Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. TD Cowen assumed coverage on shares of Blackstone in a research note on Thursday, January 4th. They issued a “market perform” rating and a $118.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on shares of Blackstone from $120.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $117.81.

View Our Latest Research Report on BX

Insider Buying and Selling at Blackstone

In other news, CAO David Payne sold 5,500 shares of Blackstone stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $128.21, for a total value of $705,155.00. Following the completion of the transaction, the chief accounting officer now owns 47,781 shares of the company’s stock, valued at approximately $6,126,002.01. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the sale, the insider now owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO David Payne sold 5,500 shares of the business’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $128.21, for a total transaction of $705,155.00. Following the completion of the sale, the chief accounting officer now directly owns 47,781 shares of the company’s stock, valued at approximately $6,126,002.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,352 shares of company stock worth $10,668,224. Insiders own 1.00% of the company’s stock.

About Blackstone

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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