1ST Source Bank Sells 70 Shares of Blackstone Inc. (NYSE:BX)

1ST Source Bank reduced its position in shares of Blackstone Inc. (NYSE:BX) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,720 shares of the asset manager’s stock after selling 70 shares during the quarter. 1ST Source Bank’s holdings in Blackstone were worth $5,010,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BX. Garden State Investment Advisory Services LLC raised its position in shares of Blackstone by 11.3% in the third quarter. Garden State Investment Advisory Services LLC now owns 3,907 shares of the asset manager’s stock valued at $599,000 after purchasing an additional 397 shares during the period. Copley Financial Group Inc. bought a new position in Blackstone in the 3rd quarter valued at about $509,000. Retirement Systems of Alabama boosted its holdings in shares of Blackstone by 0.3% during the third quarter. Retirement Systems of Alabama now owns 158,168 shares of the asset manager’s stock worth $24,220,000 after acquiring an additional 524 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in Blackstone during the 3rd quarter worth approximately $615,000. Finally, Old North State Trust LLC grew its holdings in Blackstone by 0.9% in the 3rd quarter. Old North State Trust LLC now owns 7,751 shares of the asset manager’s stock valued at $1,187,000 after buying an additional 68 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the topic of several research reports. Barclays upped their price target on shares of Blackstone from $174.00 to $199.00 and gave the company an “equal weight” rating in a research note on Monday. UBS Group lifted their price objective on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group boosted their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the company from $149.00 to $230.00 in a research note on Monday. Finally, JPMorgan Chase & Co. increased their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $164.69.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.0 %

Shares of NYSE BX traded up $0.05 during midday trading on Friday, reaching $190.35. The stock had a trading volume of 540,563 shares, compared to its average volume of 3,383,478. Blackstone Inc. has a twelve month low of $114.88 and a twelve month high of $200.96. The company’s 50 day moving average price is $175.41 and its 200 day moving average price is $148.70. The firm has a market cap of $137.43 billion, a price-to-earnings ratio of 65.39, a price-to-earnings-growth ratio of 1.63 and a beta of 1.51. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, sell-side analysts expect that Blackstone Inc. will post 4.43 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a $0.86 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.81%. The ex-dividend date was Monday, October 28th. Blackstone’s payout ratio is 118.21%.

Blackstone Profile

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.