Massmutual Trust Co. FSB ADV Has $285,000 Stake in Blackstone Inc. (NYSE:BX)

Massmutual Trust Co. FSB ADV boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 19.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,302 shares of the asset manager’s stock after acquiring an additional 371 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Blackstone were worth $285,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Congress Wealth Management LLC DE raised its position in Blackstone by 36.6% in the fourth quarter. Congress Wealth Management LLC DE now owns 36,215 shares of the asset manager’s stock worth $4,741,000 after acquiring an additional 9,699 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in Blackstone by 8.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 367,841 shares of the asset manager’s stock worth $48,158,000 after acquiring an additional 28,856 shares during the last quarter. Stonegate Investment Group LLC lifted its holdings in Blackstone by 0.8% during the first quarter. Stonegate Investment Group LLC now owns 20,165 shares of the asset manager’s stock valued at $2,649,000 after purchasing an additional 169 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Blackstone by 8.9% in the fourth quarter. TD Asset Management Inc now owns 254,099 shares of the asset manager’s stock worth $33,267,000 after purchasing an additional 20,830 shares in the last quarter. Finally, Norden Group LLC boosted its holdings in Blackstone by 2,072.0% in the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock worth $4,802,000 after buying an additional 34,872 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related news, insider Joseph Baratta 4,987 shares of the company’s stock in a transaction on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Down 2.7 %

Shares of NYSE BX traded down $3.55 during mid-day trading on Monday, reaching $129.50. 6,368,845 shares of the company traded hands, compared to its average volume of 3,573,693. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $145.16. The stock has a market cap of $92.55 billion, a PE ratio of 46.25, a price-to-earnings-growth ratio of 1.17 and a beta of 1.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 0.77. The company’s fifty day moving average is $127.15 and its two-hundred day moving average is $125.76.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share 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 firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the company posted $0.93 earnings per share. Blackstone’s quarterly revenue was up 166.9% compared to the same quarter last year. On average, analysts expect that Blackstone Inc. will post 4.58 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 29th will be given a dividend of $0.82 per share. The ex-dividend date is Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.53%. Blackstone’s dividend payout ratio is currently 115.90%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. UBS Group boosted their price target on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Argus upped their price target on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Piper Sandler lifted their price objective on Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, TD Cowen raised their target price on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone has an average rating of “Hold” and a consensus target price of $127.56.

About Blackstone

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.