Capital City Trust Co. FL Sells 1,010 Shares of Blackstone Inc. $BX

Capital City Trust Co. FL lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 5.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 17,306 shares of the asset manager’s stock after selling 1,010 shares during the period. Capital City Trust Co. FL’s holdings in Blackstone were worth $2,589,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Mattern Wealth Management LLC grew its holdings in shares of Blackstone by 2.8% during the second quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock worth $331,000 after purchasing an additional 60 shares during the last quarter. Sage Rhino Capital LLC raised its position in shares of Blackstone by 0.8% during the second quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock worth $1,202,000 after purchasing an additional 63 shares during the period. Jeppson Wealth Management LLC raised its position in shares of Blackstone by 1.0% during the second quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager’s stock worth $980,000 after purchasing an additional 66 shares during the period. McAdam LLC raised its position in shares of Blackstone by 4.4% during the first quarter. McAdam LLC now owns 1,762 shares of the asset manager’s stock worth $246,000 after purchasing an additional 75 shares during the period. Finally, Angeles Wealth Management LLC raised its position in Blackstone by 0.6% in the 1st quarter. Angeles Wealth Management LLC now owns 11,819 shares of the asset manager’s stock valued at $1,652,000 after buying an additional 76 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related news, Director Joseph Baratta sold 113,000 shares of the company’s stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the sale, the director owned 695,757 shares in the company, valued at $122,237,547.33. This represents a 13.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 21,500 shares of the company’s stock in a transaction dated 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 sale, the insider owned 453,836 shares in the company, valued at approximately $77,814,720.56. The trade was a 4.52% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 3,727,877 shares of company stock worth $95,046,625 and have sold 16,984,634 shares worth $155,181,346. Corporate insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Blackstone stock opened at $168.40 on Friday. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The stock has a fifty day moving average of $173.81 and a 200-day moving average of $153.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market capitalization of $124.12 billion, a P/E ratio of 45.27, a price-to-earnings-growth ratio of 1.37 and a beta of 1.77.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.11. Blackstone had a return on equity of 20.47% and a net margin of 20.83%.The business had revenue of $3.07 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. On average, sell-side analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were given a $1.03 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date was Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.4%. Blackstone’s dividend payout ratio is presently 110.75%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Citigroup reissued a “market perform” rating on shares of Blackstone in a research report on Saturday, July 19th. Keefe, Bruyette & Woods lifted their target price on Blackstone from $168.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, July 25th. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Wells Fargo & Company boosted their price target on Blackstone from $153.00 to $167.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Finally, Piper Sandler lifted their price objective on Blackstone from $157.00 to $181.00 and gave the company a “neutral” rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $175.53.

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.