Blackstone Inc. $BX Shares Sold by 1ST Source Bank

1ST Source Bank trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,855 shares of the asset manager’s stock after selling 484 shares during the period. 1ST Source Bank’s holdings in Blackstone were worth $4,765,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC raised its holdings in shares of Blackstone by 519,669.1% during the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock valued at $10,490,411,000 after acquiring an additional 70,118,948 shares during the period. Vanguard Group Inc. raised its stake in Blackstone by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock valued at $9,504,702,000 after purchasing an additional 1,102,949 shares during the period. Nuveen LLC acquired a new stake in shares of Blackstone in the first quarter worth $151,524,000. Amundi grew its holdings in shares of Blackstone by 69.3% during the first quarter. Amundi now owns 2,421,502 shares of the asset manager’s stock valued at $323,000,000 after buying an additional 990,947 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Blackstone by 16.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock worth $739,761,000 after acquiring an additional 742,829 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BX shares. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. Citigroup lowered their target price on Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Piper Sandler cut their price target on Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. HSBC lowered their price target on Blackstone from $179.00 to $178.00 in a research note on Monday, October 27th. Finally, Morgan Stanley lifted their target price on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Eleven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $179.74.

Insiders Place Their Bets

In other news, Director Joseph Baratta sold 113,000 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the sale, the director owned 695,757 shares in the company, valued at approximately $122,237,547.33. This trade represents a 13.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John G. Finley sold 21,500 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $171.46, for a total value of $3,686,390.00. Following the completion of the transaction, the insider directly owned 453,836 shares in the company, valued at approximately $77,814,720.56. This represents a 4.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have acquired 2,565,415 shares of company stock valued at $69,037,981 and have sold 16,875,234 shares valued at $136,847,628. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $146.00 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $165.79 and a 200 day moving average price of $157.40. The firm has a market capitalization of $107.61 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96.

Blackstone (NYSE:BX) last released its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The business had revenue of $2.49 billion for the quarter. Research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Monday, November 3rd will be paid a dividend of $1.29 per share. The ex-dividend date is Monday, November 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.5%. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio (DPR) is currently 147.43%.

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.