Cetera Trust Company N.A Makes New $98,000 Investment in Blackstone Inc. (NYSE:BX)

Cetera Trust Company N.A acquired a new stake in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 750 shares of the asset manager’s stock, valued at approximately $98,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WASHINGTON TRUST Co raised its position in shares of Blackstone by 7.0% during the 3rd quarter. WASHINGTON TRUST Co now owns 121,358 shares of the asset manager’s stock valued at $13,002,000 after purchasing an additional 7,907 shares during the period. Asset Management One Co. Ltd. raised its position in shares of Blackstone by 5.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 303,069 shares of the asset manager’s stock valued at $40,348,000 after purchasing an additional 15,875 shares during the period. Chicago Capital LLC bought a new stake in shares of Blackstone during the 4th quarter valued at $3,734,000. Kampmann Melissa S. bought a new stake in Blackstone in the 3rd quarter valued at $2,314,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Blackstone by 1,722.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 504,441 shares of the asset manager’s stock valued at $54,046,000 after acquiring an additional 476,768 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BX has been the topic of a number of research reports. Bank of America reduced their price target on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a report on Friday. TD Cowen reduced their price target on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a report on Friday. JMP Securities reissued a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9th. TheStreet cut shares of Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. Finally, BMO Capital Markets lifted their price objective on shares of Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $122.94.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the sale, the insider now owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The disclosure for this sale can be found here. Insiders sold a total of 2,587,168 shares of company stock valued at $37,816,476 in the last three months. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

BX stock opened at $122.09 on Tuesday. Blackstone Inc. has a 12 month low of $79.92 and a 12 month high of $133.56. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $126.31 and a 200 day moving average price of $118.06. The stock has a market cap of $87.25 billion, a PE ratio of 43.14, a P/E/G ratio of 0.98 and a beta of 1.51.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.98. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The firm’s quarterly revenue was up 166.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS. Equities research analysts anticipate that Blackstone Inc. will post 4.82 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be given a $0.83 dividend. The ex-dividend date is Friday, April 26th. This represents a $3.32 annualized dividend and a yield of 2.72%. Blackstone’s dividend payout ratio (DPR) is 132.86%.

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.