Hilltop National Bank boosted its stake in shares of Blackstone Inc. (NYSE:BX – Free Report) by 3.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 12,998 shares of the asset manager’s stock after acquiring an additional 470 shares during the period. Hilltop National Bank’s holdings in Blackstone were worth $2,241,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC grew its holdings in shares of Blackstone by 12,090.0% during the second quarter. Quest Partners LLC now owns 1,219 shares of the asset manager’s stock worth $151,000 after buying an additional 1,209 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in Blackstone by 23.0% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 2,538 shares of the asset manager’s stock valued at $314,000 after acquiring an additional 474 shares in the last quarter. Andra AP fonden acquired a new stake in Blackstone in the 2nd quarter valued at about $669,000. MGO One Seven LLC grew its position in shares of Blackstone by 4.8% in the second quarter. MGO One Seven LLC now owns 23,369 shares of the asset manager’s stock valued at $2,893,000 after purchasing an additional 1,066 shares in the last quarter. Finally, LPL Financial LLC increased its stake in shares of Blackstone by 2.5% in the 2nd quarter. LPL Financial LLC now owns 902,958 shares of the asset manager’s stock worth $111,786,000 after acquiring an additional 22,233 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Blackstone
In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Report on Blackstone
Blackstone Stock Performance
BX traded down $8.53 during trading on Friday, reaching $165.44. 1,660,062 shares of the company were exchanged, compared to its average volume of 2,116,207. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 52 week low of $114.88 and a 52 week high of $200.96. The firm has a 50 day moving average of $180.80 and a 200 day moving average of $156.25. The stock has a market cap of $119.45 billion, a P/E ratio of 56.85, a PEG ratio of 1.63 and a beta of 1.53.
Blackstone (NYSE:BX – Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. On average, sell-side analysts forecast that Blackstone Inc. will post 4.43 EPS for the current fiscal year.
Blackstone Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were given a dividend of $0.86 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 2.08%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is 118.21%.
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.
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