Blackstone Inc. (NYSE:BX) Shares Sold by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A lowered its position in Blackstone Inc. (NYSE:BXFree Report) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 67,625 shares of the asset manager’s stock after selling 2,455 shares during the period. Blackstone comprises approximately 3.6% of OLD Point Trust & Financial Services N A’s investment portfolio, making the stock its 8th biggest position. OLD Point Trust & Financial Services N A’s holdings in Blackstone were worth $8,853,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BX. Vanguard Group Inc. increased its stake in shares of Blackstone by 30.2% during the third quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock worth $6,652,526,000 after purchasing an additional 14,396,655 shares in the last quarter. Norges Bank purchased a new stake in shares of Blackstone during the fourth quarter worth about $708,859,000. International Assets Investment Management LLC increased its stake in shares of Blackstone by 13,816.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock worth $4,744,370,000 after purchasing an additional 3,597,828 shares in the last quarter. Northern Trust Corp increased its stake in shares of Blackstone by 43.9% during the third quarter. Northern Trust Corp now owns 6,877,288 shares of the asset manager’s stock worth $736,833,000 after purchasing an additional 2,098,150 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Blackstone by 255.2% during the third quarter. Invesco Ltd. now owns 2,698,085 shares of the asset manager’s stock worth $289,073,000 after purchasing an additional 1,938,593 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Down 1.3 %

Shares of BX stock traded down $1.55 during trading hours on Friday, hitting $117.62. The company had a trading volume of 3,200,870 shares, compared to its average volume of 3,000,355. The stock has a market capitalization of $84.06 billion, a PE ratio of 41.56, a price-to-earnings-growth ratio of 1.00 and a beta of 1.53. Blackstone Inc. has a fifty-two week low of $86.17 and a fifty-two week high of $133.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. The company’s fifty day moving average is $123.10 and its 200 day moving average is $123.27.

Blackstone (NYSE:BXGet Free Report) last released its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.98. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.56 billion. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The firm’s quarterly revenue was up 166.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS. Research analysts expect that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Friday, April 26th. Blackstone’s dividend payout ratio is presently 117.31%.

Wall Street Analysts Forecast Growth

BX has been the subject of several research reports. Argus upped their price objective on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9th. Barclays reaffirmed an “equal weight” rating and set a $125.00 price objective (down previously from $129.00) on shares of Blackstone in a research note on Friday, April 19th. UBS Group upped their price objective on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Piper Sandler decreased their target price on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $123.65.

Check Out Our Latest Analysis on BX

Insider Buying and Selling at Blackstone

In other news, Director Ruth Porat acquired 219 shares of the company’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $119.48 per share, with a total value of $26,166.12. Following the transaction, the director now owns 34,445 shares in the company, valued at approximately $4,115,488.60. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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