Blackstone Inc. (NYSE:BX) Shares Sold by Dupont Capital Management Corp

Dupont Capital Management Corp cut its holdings in Blackstone Inc. (NYSE:BXFree Report) by 2.5% during the 4th quarter, Holdings Channel reports. The firm owned 71,172 shares of the asset manager’s stock after selling 1,851 shares during the period. Dupont Capital Management Corp’s holdings in Blackstone were worth $9,318,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. FAS Wealth Partners Inc. grew its position in shares of Blackstone by 18.1% in the fourth quarter. FAS Wealth Partners Inc. now owns 19,178 shares of the asset manager’s stock valued at $2,511,000 after purchasing an additional 2,938 shares during the last quarter. Welch Group LLC boosted its position in Blackstone by 0.4% during the fourth quarter. Welch Group LLC now owns 52,514 shares of the asset manager’s stock worth $6,875,000 after acquiring an additional 187 shares during the last quarter. Princeton Global Asset Management LLC raised its stake in Blackstone by 0.9% during the fourth quarter. Princeton Global Asset Management LLC now owns 97,764 shares of the asset manager’s stock worth $12,799,000 after purchasing an additional 905 shares during the period. Pinnacle Financial Partners Inc raised its stake in Blackstone by 0.3% during the fourth quarter. Pinnacle Financial Partners Inc now owns 39,671 shares of the asset manager’s stock worth $5,194,000 after purchasing an additional 102 shares during the period. Finally, Essex Savings Bank purchased a new position in Blackstone during the fourth quarter worth approximately $264,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and increased their price target for the stock from $115.00 to $128.00 in a research note on Wednesday, January 3rd. Morgan Stanley raised their target price 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. Bank of America raised their target price on shares of Blackstone from $146.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, March 4th. BMO Capital Markets raised their price target on shares of Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Finally, Oppenheimer lowered shares of Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $119.25.

Read Our Latest Stock Report on BX

Blackstone Trading Down 3.6 %

Shares of NYSE:BX opened at $126.32 on Wednesday. The company has a 50 day moving average of $126.33 and a 200-day moving average of $116.41. The firm has a market cap of $90.27 billion, a P/E ratio of 69.03, a P/E/G ratio of 1.05 and a beta of 1.51. Blackstone Inc. has a twelve month low of $79.29 and a twelve month high of $133.56. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.67.

Blackstone (NYSE:BXGet Free Report) last released its earnings results on Thursday, January 25th. The asset manager reported $1.11 EPS for the quarter, beating 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 analyst estimates of $2.48 billion. During the same period in the prior year, the business earned $1.07 earnings per share. As a group, analysts anticipate that Blackstone Inc. will post 4.92 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Monday, February 5th were paid a dividend of $0.94 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.80. This represents a $3.76 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Friday, February 2nd. Blackstone’s dividend payout ratio is presently 205.46%.

Insider Activity at Blackstone

In other news, Director Joseph Baratta sold 28,852 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $128.05, for a total value of $3,694,498.60. Following the sale, the director now owns 982,221 shares of the company’s stock, valued at approximately $125,773,399.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Baratta sold 28,852 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the transaction, the director now owns 982,221 shares in the company, valued at $125,773,399.05. The disclosure for this sale can be found here. Insiders sold a total of 2,587,168 shares of company stock worth $37,816,476 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Blackstone 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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