Blackstone Inc. (NYSE:BX) Shares Sold by Webster Bank N. A.

Webster Bank N. A. lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 62.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 188 shares of the asset manager’s stock after selling 308 shares during the quarter. Webster Bank N. A.’s holdings in Blackstone were worth $29,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Chilton Capital Management LLC acquired a new stake in shares of Blackstone in the first quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Blackstone during the 2nd quarter valued at about $26,000. EdgeRock Capital LLC acquired a new stake in Blackstone during the second quarter worth about $27,000. West Financial Advisors LLC purchased a new stake in Blackstone in the 3rd quarter worth approximately $27,000. Finally, Bank & Trust Co purchased a new position in shares of Blackstone during the 2nd quarter valued at approximately $29,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Up 2.7 %

NYSE BX opened at $153.04 on Monday. The firm has a market cap of $109.37 billion, a price-to-earnings ratio of 54.08, a PEG ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a one year low of $88.59 and a one year high of $161.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a 50 day simple moving average of $143.72 and a 200-day simple moving average of $132.14.

Blackstone (NYSE:BX) last released its earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the firm earned $0.93 earnings per share. The company’s revenue for the quarter was up 166.9% compared to the same quarter last year. Equities research analysts anticipate that Blackstone Inc. will post 4.46 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s payout ratio is 115.90%.

Insider Buying and Selling

In related news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BX shares. Barclays increased their target price on shares of Blackstone from $141.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. The Goldman Sachs Group boosted their price objective on Blackstone from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Morgan Stanley upped their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday. Bank of America boosted their target price on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, TD Cowen boosted their price objective on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $135.00.

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.