Coastline Trust Co Increases Stock Holdings in Blackstone Inc. (NYSE:BX)

Coastline Trust Co lifted its stake in shares of Blackstone Inc. (NYSE:BXFree Report) by 22.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,179 shares of the asset manager’s stock after purchasing an additional 4,391 shares during the period. Coastline Trust Co’s holdings in Blackstone were worth $3,166,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Mayfair Advisory Group LLC grew its position in shares of Blackstone by 2.7% during the fourth quarter. Mayfair Advisory Group LLC now owns 3,776 shares of the asset manager’s stock worth $484,000 after buying an additional 100 shares in the last quarter. Pinnacle Financial Partners Inc grew its position in shares of 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 buying an additional 102 shares in the last quarter. Secure Asset Management LLC grew its position in shares of Blackstone by 0.9% during the third quarter. Secure Asset Management LLC now owns 11,638 shares of the asset manager’s stock worth $1,247,000 after buying an additional 108 shares in the last quarter. Argonautica Private Wealth Management Inc. boosted its holdings in Blackstone by 0.3% in the third quarter. Argonautica Private Wealth Management Inc. now owns 35,747 shares of the asset manager’s stock valued at $3,830,000 after purchasing an additional 109 shares in the last quarter. Finally, Sage Mountain Advisors LLC boosted its holdings in Blackstone by 2.0% in the third quarter. Sage Mountain Advisors LLC now owns 5,619 shares of the asset manager’s stock valued at $602,000 after purchasing an additional 110 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Blackstone

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 on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Blackstone news, Director Joseph Baratta sold 28,852 shares of Blackstone stock in a transaction on Friday, February 9th. The stock was sold at an average price of $128.05, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,587,168 shares of company stock valued at $37,816,476. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of Blackstone stock traded down $4.71 during trading hours on Tuesday, hitting $126.32. 3,621,067 shares of the company were exchanged, compared to its average volume of 3,785,710. The business has a 50-day moving average of $126.33 and a 200-day moving average of $116.41. The stock has a market capitalization of $90.27 billion, a price-to-earnings ratio of 69.02, a P/E/G ratio of 1.05 and a beta of 1.51. 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 Inc. has a 1 year low of $79.29 and a 1 year high of $133.56.

Blackstone (NYSE:BXGet Free Report) last released its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.16. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $2.48 billion. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. During the same quarter in the prior year, the business posted $1.07 earnings per share. As a group, analysts expect that Blackstone Inc. will post 4.92 EPS for the current fiscal year.

Blackstone Increases Dividend

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

Analyst Ratings Changes

BX has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price target on Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Morgan Stanley upped their price target on Blackstone from $120.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. upped their price target on Blackstone from $91.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, January 26th. The Goldman Sachs Group cut Blackstone from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $115.00 to $128.00 in a research note on Wednesday, January 3rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $150.00 price objective on shares of Blackstone in a research note on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $119.25.

View Our Latest Analysis on BX

Blackstone Company 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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