Fiduciary Trust Co Has $4.26 Million Position in Blackstone Inc. (NYSE:BX)

Fiduciary Trust Co lifted its position in shares of Blackstone Inc. (NYSE:BX) by 4.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 24,725 shares of the asset manager’s stock after acquiring an additional 1,130 shares during the period. Fiduciary Trust Co’s holdings in Blackstone were worth $4,263,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of Blackstone by 6.1% during the 3rd quarter. Principal Financial Group Inc. now owns 909,698 shares of the asset manager’s stock worth $139,302,000 after purchasing an additional 51,897 shares in the last quarter. ORG Partners LLC grew its position in Blackstone by 232.1% during the fourth quarter. ORG Partners LLC now owns 279 shares of the asset manager’s stock worth $48,000 after buying an additional 195 shares in the last quarter. Weybosset Research & Management LLC acquired a new position in Blackstone in the 4th quarter valued at $224,000. ST Germain D J Co. Inc. lifted its position in shares of Blackstone by 1.3% during the 4th quarter. ST Germain D J Co. Inc. now owns 91,274 shares of the asset manager’s stock valued at $15,737,000 after acquiring an additional 1,205 shares during the period. Finally, Hilltop National Bank raised its stake in Blackstone by 3.8% in the fourth quarter. Hilltop National Bank now owns 12,998 shares of the asset manager’s stock valued at $2,241,000 after purchasing an additional 470 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. TD Cowen decreased their target price on shares of Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Citizens Jmp upgraded Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 target price for the company in a research note on Tuesday, April 8th. UBS Group dropped their price objective on Blackstone from $180.00 to $175.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley dropped their target price on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, Citigroup decreased their price target on shares of Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $154.82.

Blackstone Trading Down 0.3 %

Shares of BX stock opened at $139.41 on Friday. The stock has a 50-day moving average of $136.87 and a 200-day moving average of $162.27. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market cap of $101.72 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the firm posted $0.98 EPS. On average, equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Monday, April 28th. Blackstone’s dividend payout ratio is 112.05%.

Insider Activity at Blackstone

In other news, insider Private Credit Stra Blackstone bought 1,660,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was acquired at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the transaction, the insider now directly owns 1,666,667 shares of the company’s stock, valued at approximately $25,000,005. This represents a 24,898.76 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ruth Porat acquired 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,660,538 shares of company stock worth $24,981,930 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

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.