Capital City Trust Co. FL Sells 968 Shares of Blackstone Inc. (NYSE:BX)

Capital City Trust Co. FL reduced its position in shares of Blackstone Inc. (NYSE:BXGet Rating) by 2.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,993 shares of the asset manager’s stock after selling 968 shares during the quarter. Capital City Trust Co. FL’s holdings in Blackstone were worth $3,101,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BX. Invesco Ltd. increased its stake in Blackstone by 23.2% during the 4th quarter. Invesco Ltd. now owns 745,352 shares of the asset manager’s stock valued at $96,441,000 after purchasing an additional 140,228 shares in the last quarter. Gotham Asset Management LLC boosted its holdings in shares of Blackstone by 33.2% during the 4th quarter. Gotham Asset Management LLC now owns 7,063 shares of the asset manager’s stock valued at $914,000 after acquiring an additional 1,762 shares during the last quarter. Enterprise Financial Services Corp purchased a new stake in shares of Blackstone during the 4th quarter valued at about $215,000. Clearstead Advisors LLC boosted its holdings in shares of Blackstone by 1.1% during the 4th quarter. Clearstead Advisors LLC now owns 14,244 shares of the asset manager’s stock valued at $1,843,000 after acquiring an additional 161 shares during the last quarter. Finally, ETF Managers Group LLC purchased a new stake in shares of Blackstone during the 4th quarter valued at about $3,450,000. 61.87% of the stock is currently owned by institutional investors.

Blackstone Stock Performance

Shares of BX opened at $83.05 on Friday. The stock has a 50-day simple moving average of $98.89 and a 200-day simple moving average of $105.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $58.27 billion, a PE ratio of 15.58, a PEG ratio of 1.69 and a beta of 1.45. Blackstone Inc. has a 1 year low of $84.11 and a 1 year high of $149.78.

Blackstone (NYSE:BXGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The asset manager reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.02. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Blackstone had a return on equity of 20.80% and a net margin of 22.48%. The business’s quarterly revenue was up 96.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. On average, analysts predict that Blackstone Inc. will post 5.16 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 8th. Investors of record on Monday, August 1st were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 6.12%. The ex-dividend date of this dividend was Friday, July 29th. Blackstone’s payout ratio is 92.70%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Blackstone from $147.00 to $153.00 and gave the stock a “buy” rating in a report on Friday, August 12th. The Goldman Sachs Group dropped their price objective on shares of Blackstone from $136.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Morgan Stanley lowered their price target on shares of Blackstone from $154.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Keefe, Bruyette & Woods downgraded shares of Blackstone from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $127.00 to $115.00 in a report on Wednesday, August 3rd. Finally, Barclays started coverage on shares of Blackstone in a report on Wednesday, August 31st. They set an “overweight” rating and a $120.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Blackstone has a consensus rating of “Moderate Buy” and an average price target of $131.33.

Insider Buying and Selling

In related news, major shareholder Holdings L.P. Blackstone III sold 7,200 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $32.68, for a total transaction of $235,296.00. Following the completion of the sale, the insider now owns 862,800 shares in the company, valued at $28,196,304. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 7,200 shares of Blackstone stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $32.68, for a total transaction of $235,296.00. Following the transaction, the insider now owns 862,800 shares of the company’s stock, valued at $28,196,304. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph Baratta sold 71,223 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $93.95, for a total value of $6,691,400.85. Following the completion of the transaction, the director now directly owns 1,141,965 shares in the company, valued at approximately $107,287,611.75. The disclosure for this sale can be found here. Insiders sold a total of 161,423 shares of company stock worth $9,660,717 over the last 90 days. 1.00% of the stock is owned by insiders.

Blackstone Profile

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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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