Blackstone Inc. $BX Shares Bought by FineMark National Bank & Trust

FineMark National Bank & Trust increased its stake in shares of Blackstone Inc. (NYSE:BX) by 14.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,747 shares of the asset manager’s stock after purchasing an additional 9,108 shares during the quarter. FineMark National Bank & Trust’s holdings in Blackstone were worth $10,732,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its stake in Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after acquiring an additional 2,035 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Blackstone by 104.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,321 shares of the asset manager’s stock worth $464,000 after purchasing an additional 1,700 shares in the last quarter. OneAscent Financial Services LLC boosted its position in shares of Blackstone by 24.8% in the 1st quarter. OneAscent Financial Services LLC now owns 3,810 shares of the asset manager’s stock valued at $533,000 after purchasing an additional 758 shares during the period. Hazlett Burt & Watson Inc. increased its position in Blackstone by 124.5% during the first quarter. Hazlett Burt & Watson Inc. now owns 844 shares of the asset manager’s stock worth $119,000 after buying an additional 468 shares during the period. Finally, Ignite Planners LLC purchased a new stake in Blackstone in the first quarter valued at approximately $391,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Down 1.4%

BX opened at $136.54 on Wednesday. The business has a 50 day simple moving average of $161.70 and a 200-day simple moving average of $157.98. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96. The stock has a market capitalization of $100.82 billion, a P/E ratio of 39.01, a P/E/G ratio of 1.18 and a beta of 1.76. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74.

Blackstone (NYSE:BX) last released its 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 company had revenue of $2.49 billion during the quarter. On average, equities analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were given a dividend of $1.29 per share. The ex-dividend date was Monday, November 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a yield of 3.8%. Blackstone’s dividend payout ratio (DPR) is currently 147.43%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Blackstone in a research report on Wednesday, October 8th. BMO Capital Markets lowered their price target on Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Citigroup decreased their price objective on Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Bank of America dropped their target price on Blackstone from $200.00 to $199.00 in a report on Friday, October 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Moderate Buy” and a consensus price target of $179.00.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 21,500 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the sale, the insider owned 453,836 shares of the company’s stock, valued at $77,814,720.56. The trade was a 4.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was purchased at an average cost of $25.61 per share, with a total value of $64,999,998.31. Following the completion of the purchase, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. This represents a 51.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 2,565,543 shares of company stock worth $69,050,139. 1.00% of the stock is currently owned by company insiders.

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.