749 Shares in Blackstone Inc. (NYSE:BX) Purchased by Crews Bank & Trust

Crews Bank & Trust acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 749 shares of the asset manager’s stock, valued at approximately $129,000.

Several other institutional investors and hedge funds have also modified their holdings of BX. Sather Financial Group Inc lifted its position in shares of Blackstone by 202.5% during the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares in the last quarter. Portside Wealth Group LLC bought a new position in Blackstone in the 3rd quarter valued at $201,000. Aljian Capital Management LLC bought a new stake in shares of Blackstone during the third quarter worth $1,951,000. Icon Wealth Advisors LLC boosted its holdings in Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after acquiring an additional 18,117 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Blackstone by 3.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock worth $179,089,000 after purchasing an additional 36,343 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday. The Goldman Sachs Group raised their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Piper Sandler upped their price objective on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. UBS Group boosted their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Citigroup boosted their price objective on shares of Blackstone from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $171.13.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Blackstone Stock Down 0.5 %

Shares of Blackstone stock opened at $176.92 on Friday. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The business’s 50 day simple moving average is $180.59 and its 200 day simple moving average is $161.95. The firm has a market cap of $127.74 billion, a PE ratio of 60.80, a P/E/G ratio of 1.24 and a beta of 1.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, analysts predict that Blackstone Inc. will post 4.41 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th will be given a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.26%. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date is Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

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.