Bay Rivers Group Decreases Stock Holdings in Blackstone Inc. (NYSE:BX)

Bay Rivers Group trimmed its stake in Blackstone Inc. (NYSE:BXFree Report) by 3.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 19,769 shares of the asset manager’s stock after selling 712 shares during the period. Blackstone comprises approximately 1.6% of Bay Rivers Group’s holdings, making the stock its 29th largest position. Bay Rivers Group’s holdings in Blackstone were worth $2,588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its holdings in Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after buying an additional 206 shares in the last quarter. Halpern Financial Inc. increased its holdings in shares of Blackstone by 327.1% in the 3rd quarter. Halpern Financial Inc. now owns 252 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 193 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in shares of Blackstone during the fourth quarter valued at about $33,000. Coppell Advisory Solutions LLC acquired a new stake in Blackstone in the second quarter valued at approximately $25,000. Finally, Family CFO Inc purchased a new position in Blackstone during the 3rd quarter worth $33,000. 63.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Blackstone 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 transaction, the insider now owns 393,143 shares in the company, valued at $50,294,783.99. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider John G. Finley sold 49,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total value of $6,268,570.00. Following the completion of the transaction, the insider now directly owns 393,143 shares in the company, valued at $50,294,783.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Baratta sold 28,852 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the completion of the sale, the director now directly owns 982,221 shares of the company’s stock, valued at approximately $125,773,399.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,587,168 shares of company stock worth $37,816,476. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Up 3.1 %

BX stock traded up $3.90 during mid-day trading on Thursday, hitting $131.66. 3,998,881 shares of the company were exchanged, compared to its average volume of 3,951,102. The business has a fifty day simple moving average of $124.53 and a 200-day simple moving average of $115.27. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.67. Blackstone Inc. has a 12-month low of $79.29 and a 12-month high of $133.56. The firm has a market capitalization of $94.09 billion, a P/E ratio of 72.03, a PEG ratio of 0.99 and a beta of 1.51.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter in the previous year, the firm earned $1.07 EPS. On average, equities research analysts predict that Blackstone Inc. will post 4.92 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Monday, February 5th were issued a $0.94 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.80. This represents a $3.76 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, February 2nd. Blackstone’s dividend payout ratio (DPR) is currently 205.46%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. The Goldman Sachs Group lowered Blackstone from a “buy” rating to a “neutral” rating and increased their price objective for the company from $115.00 to $128.00 in a report on Wednesday, January 3rd. TD Cowen assumed coverage on shares of Blackstone in a research note on Thursday, January 4th. They set a “market perform” rating and a $118.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Finally, Piper Sandler reiterated an “overweight” rating and set a $150.00 price target on shares of Blackstone in a research report on Wednesday, December 20th. 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 MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus target price of $119.53.

Get Our Latest Stock Analysis on Blackstone

Blackstone Company Profile

(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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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