Sanibel Captiva Trust Company Inc. Purchases 1,055 Shares of Blackstone Inc. (NYSE:BX)

Sanibel Captiva Trust Company Inc. raised its holdings in Blackstone Inc. (NYSE:BX) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,120 shares of the asset manager’s stock after buying an additional 1,055 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Blackstone were worth $5,189,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Centricity Wealth Management LLC acquired a new position in Blackstone in the fourth quarter worth about $30,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Blackstone during the 4th quarter worth approximately $33,000. Comprehensive Financial Planning Inc. PA bought a new stake in Blackstone in the fourth quarter valued at $34,000. Roxbury Financial LLC bought a new position in shares of Blackstone during the fourth quarter valued at $34,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Blackstone during the 4th quarter worth about $34,000. 70.00% of the stock is owned by institutional investors.

Insider Activity

In other news, insider John G. Finley sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the completion of the transaction, the insider now owns 475,336 shares in the company, valued at $65,819,775.92. This represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was bought at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the transaction, the insider now directly owns 1,666,667 shares in the company, valued at $25,000,005. This represents a 24,898.76% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Morgan Stanley decreased their price objective on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Cowen reiterated a “buy” rating on shares of Blackstone in a research report on Monday, April 21st. Barclays increased their target price on Blackstone from $129.00 to $136.00 and gave the stock an “equal weight” rating in a report on Monday, April 21st. Keefe, Bruyette & Woods reduced their price target on shares of Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. Finally, TD Cowen dropped their target price on shares of Blackstone from $233.00 to $147.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and an average target price of $155.65.

Blackstone Stock Performance

Shares of Blackstone stock opened at $139.89 on Tuesday. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The stock has a market capitalization of $102.07 billion, a price-to-earnings ratio of 38.54, a PEG ratio of 1.07 and a beta of 1.65. The firm has a fifty day moving average of $135.32 and a two-hundred day moving average of $156.79.

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

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were issued a $0.93 dividend. The ex-dividend date was Monday, April 28th. This represents a $3.72 annualized dividend and a yield of 2.66%. Blackstone’s dividend payout ratio (DPR) is presently 112.05%.

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.