1ST Source Bank Trims Stock Holdings in Blackstone Inc. (NYSE:BX)

1ST Source Bank lowered its holdings in Blackstone Inc. (NYSE:BX) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,617 shares of the asset manager’s stock after selling 103 shares during the period. 1ST Source Bank’s holdings in Blackstone were worth $5,624,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sather Financial Group Inc boosted its holdings in Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after purchasing an additional 4,050 shares during the last quarter. Aljian Capital Management LLC bought a new position in Blackstone during the 3rd quarter worth approximately $1,951,000. Icon Wealth Advisors LLC lifted its holdings in Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after buying an additional 18,117 shares during the last quarter. Wealthcare Capital Partners LLC bought a new position in Blackstone during the 4th quarter worth approximately $2,102,000. Finally, Highland Capital Management LLC lifted its holdings in Blackstone by 214.2% during the 4th quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock worth $3,845,000 after buying an additional 15,205 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and increased their target price for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Barclays restated an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Wells Fargo & Company lowered their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. BMO Capital Markets upped their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Finally, UBS Group restated a “neutral” rating on shares of Blackstone in a research note on Monday, March 3rd. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $172.38.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by insiders.

Blackstone Trading Up 3.3 %

Shares of Blackstone stock opened at $141.01 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market cap of $102.86 billion, a price-to-earnings ratio of 38.85, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. The business has a fifty day simple moving average of $165.90 and a 200-day simple moving average of $167.21. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96.

Blackstone (NYSE:BX) last announced its earnings results 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 19.58% and a net margin of 20.99%. On average, equities analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. The ex-dividend date was Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 4.08%. Blackstone’s payout ratio is 158.68%.

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.