Bryn Mawr Capital Management LLC Sells 7,620 Shares of Blackstone Inc. (NYSE:BX)

Bryn Mawr Capital Management LLC lowered its stake in Blackstone Inc. (NYSE:BX) by 60.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,946 shares of the asset manager’s stock after selling 7,620 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Blackstone were worth $853,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp raised its holdings in Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after buying an additional 348,751 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after purchasing an additional 336,308 shares during the period. International Assets Investment Management LLC grew its stake in shares of Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Blackstone by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after buying an additional 61,739 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Blackstone by 3.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock valued at $525,375,000 after buying an additional 116,367 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on BX shares. Barclays reduced their target price on Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. UBS Group boosted their target price on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. increased their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company cut their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Blackstone has an average rating of “Hold” and a consensus target price of $172.38.

Blackstone Stock Performance

Shares of BX stock opened at $163.83 on Friday. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The firm has a market capitalization of $118.28 billion, a PE ratio of 45.13, a price-to-earnings-growth ratio of 1.09 and a beta of 1.53. The firm has a fifty day simple moving average of $174.18 and a two-hundred day simple moving average of $165.03. 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 (NYSE:BX) last announced its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a dividend of $1.44 per share. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.52%. Blackstone’s dividend payout ratio (DPR) is 158.68%.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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.