Blackstone Inc. (NYSE:BX) Position Boosted by Bremer Bank National Association

Bremer Bank National Association raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 6.0% during the 1st quarter, HoldingsChannel reports. The fund owned 45,717 shares of the asset manager’s stock after purchasing an additional 2,591 shares during the period. Blackstone accounts for approximately 1.1% of Bremer Bank National Association’s portfolio, making the stock its 28th biggest holding. Bremer Bank National Association’s holdings in Blackstone were worth $6,390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of BX. CGN Advisors LLC lifted its holdings in shares of Blackstone by 25.2% during the 1st quarter. CGN Advisors LLC now owns 16,409 shares of the asset manager’s stock valued at $2,294,000 after buying an additional 3,303 shares during the last quarter. Whipplewood Advisors LLC lifted its holdings in shares of Blackstone by 16,581.3% during the 1st quarter. Whipplewood Advisors LLC now owns 10,676 shares of the asset manager’s stock valued at $1,492,000 after buying an additional 10,612 shares during the last quarter. Chickasaw Capital Management LLC lifted its holdings in shares of Blackstone by 0.6% during the 1st quarter. Chickasaw Capital Management LLC now owns 14,541 shares of the asset manager’s stock valued at $2,033,000 after buying an additional 90 shares during the last quarter. Merit Financial Group LLC lifted its holdings in shares of Blackstone by 13.0% during the 1st quarter. Merit Financial Group LLC now owns 37,337 shares of the asset manager’s stock valued at $5,219,000 after buying an additional 4,285 shares during the last quarter. Finally, Baxter Bros Inc. lifted its holdings in Blackstone by 71.5% in the 1st quarter. Baxter Bros Inc. now owns 14,948 shares of the asset manager’s stock worth $2,089,000 after purchasing an additional 6,230 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

BX opened at $138.62 on Tuesday. The stock has a market cap of $101.14 billion, a PE ratio of 38.19, a P/E/G ratio of 1.07 and a beta of 1.67. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The stock’s 50 day simple moving average is $135.67 and its 200-day simple moving average is $158.54.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Monday, April 28th. Blackstone’s dividend payout ratio (DPR) is 112.05%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BX. Citigroup reduced their target price on Blackstone from $190.00 to $137.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company boosted their target price on Blackstone from $139.00 to $153.00 and gave the stock an “equal weight” rating in a report on Friday, May 23rd. JMP Securities restated a “market outperform” rating and issued a $165.00 target price on shares of Blackstone in a report on Thursday, April 24th. TD Cowen reduced their target price on Blackstone from $233.00 to $147.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Finally, UBS Group reduced their target price on Blackstone from $180.00 to $175.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $155.65.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 25,000 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $138.47, for a total value of $3,461,750.00. Following the sale, the insider now directly owns 475,336 shares in the company, valued at $65,819,775.92. This represents a 5.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the stock in a transaction on Thursday, May 1st. The stock was bought at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the transaction, the insider now directly owns 1,666,667 shares of the company’s stock, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

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.