FineMark National Bank & Trust Sells 16,724 Shares of Blackstone Inc. (NYSE:BX)

FineMark National Bank & Trust lessened its position in Blackstone Inc. (NYSE:BX) by 21.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,631 shares of the asset manager’s stock after selling 16,724 shares during the quarter. FineMark National Bank & Trust’s holdings in Blackstone were worth $10,626,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Bangor Savings Bank raised its position in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares during the last quarter. Hager Investment Management Services LLC bought a new stake in shares of Blackstone in the 4th quarter worth approximately $28,000. Centricity Wealth Management LLC bought a new stake in shares of Blackstone during the fourth quarter valued at approximately $30,000. Roxbury Financial LLC acquired a new stake in Blackstone during the fourth quarter worth $34,000. Finally, Berbice Capital Management LLC acquired a new position in shares of Blackstone in the 4th quarter valued at $34,000. 70.00% of the stock is currently owned by institutional investors.

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat acquired 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Performance

Blackstone stock opened at $152.13 on Tuesday. Blackstone Inc. has a 1 year low of $115.82 and a 1 year high of $200.96. The company’s 50-day moving average is $163.26 and its two-hundred day moving average is $167.59. 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 company has a market cap of $110.97 billion, a PE ratio of 41.91, a PEG ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Equities analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current 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. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s payout ratio is presently 158.68%.

Analysts Set New Price Targets

A number of brokerages have commented on BX. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Barclays reissued an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. Piper Sandler raised their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, UBS Group upgraded Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Monday, March 17th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Blackstone has an average rating of “Hold” and an average price target of $171.13.

Blackstone Company 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.