Keybank National Association OH Buys 472 Shares of Blackstone Inc. $BX

Keybank National Association OH raised its stake in shares of Blackstone Inc. (NYSE:BX) by 2.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 16,479 shares of the asset manager’s stock after purchasing an additional 472 shares during the quarter. Keybank National Association OH’s holdings in Blackstone were worth $2,465,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Arcus Capital Partners LLC increased its holdings in shares of Blackstone by 1.2% during the 2nd quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock worth $739,000 after purchasing an additional 58 shares during the period. Mattern Wealth Management LLC boosted its position in shares of Blackstone by 2.8% during the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager’s stock valued at $331,000 after acquiring an additional 60 shares in the last quarter. Sage Rhino Capital LLC boosted its position in shares of Blackstone by 0.8% during the 2nd quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager’s stock valued at $1,202,000 after acquiring an additional 63 shares in the last quarter. WNY Asset Management LLC boosted its position in shares of Blackstone by 1.7% during the 2nd quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager’s stock valued at $576,000 after acquiring an additional 64 shares in the last quarter. Finally, Jeppson Wealth Management LLC boosted its position in shares of Blackstone by 1.0% during the 2nd quarter. Jeppson Wealth Management LLC now owns 6,549 shares of the asset manager’s stock valued at $980,000 after acquiring an additional 66 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In related news, Director Joseph Baratta sold 113,000 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the sale, the director directly owned 695,757 shares of the company’s stock, valued at $122,237,547.33. The trade was a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John G. Finley sold 21,500 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the sale, the insider directly owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. This trade represents a 4.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders purchased 2,551,515 shares of company stock valued at $67,038,327 and sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Price Performance

Shares of BX stock opened at $146.45 on Friday. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The firm’s 50 day moving average is $168.51 and its 200-day moving average is $156.80. The firm has a market capitalization of $107.94 billion, a price-to-earnings ratio of 41.84, a PEG ratio of 1.18 and a beta of 1.77. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last announced its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The company had revenue of $2.49 billion for the quarter. Sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be paid a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.5%. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, November 3rd. Blackstone’s payout ratio is presently 147.43%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. HSBC decreased their target price on shares of Blackstone from $179.00 to $178.00 in a research report on Monday, October 27th. Jefferies Financial Group reduced their price target on shares of Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. TD Cowen reduced their price target on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Barclays reduced their price target on shares of Blackstone from $171.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Friday, October 24th. Finally, BMO Capital Markets reduced their price target on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, October 27th. Eleven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $179.74.

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.