1,390 Shares in Blackstone Inc. (NYSE:BX) Acquired by Arlington Trust Co LLC

Arlington Trust Co LLC acquired a new stake in Blackstone Inc. (NYSE:BX) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,390 shares of the asset manager’s stock, valued at approximately $182,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mayfair Advisory Group LLC raised its stake in Blackstone by 2.7% during the 4th quarter. Mayfair Advisory Group LLC now owns 3,776 shares of the asset manager’s stock valued at $484,000 after buying an additional 100 shares during the last quarter. Pinnacle Financial Partners Inc grew its holdings in Blackstone by 0.3% during the 4th quarter. Pinnacle Financial Partners Inc now owns 39,671 shares of the asset manager’s stock valued at $5,194,000 after buying an additional 102 shares in the last quarter. Secure Asset Management LLC raised its holdings in shares of Blackstone by 0.9% during the 3rd quarter. Secure Asset Management LLC now owns 11,638 shares of the asset manager’s stock worth $1,247,000 after acquiring an additional 108 shares in the last quarter. Augustine Asset Management Inc. grew its holdings in shares of Blackstone by 2.0% in the fourth quarter. Augustine Asset Management Inc. now owns 5,604 shares of the asset manager’s stock valued at $734,000 after purchasing an additional 108 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. lifted its position in Blackstone by 0.3% during the third quarter. Argonautica Private Wealth Management Inc. now owns 35,747 shares of the asset manager’s stock valued at $3,830,000 after purchasing an additional 109 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Performance

NYSE:BX traded up $1.57 during mid-day trading on Friday, hitting $127.58. The company’s stock had a trading volume of 1,897,931 shares, compared to its average volume of 3,841,764. The stock has a market cap of $91.17 billion, a price-to-earnings ratio of 69.72, a PEG ratio of 1.05 and a beta of 1.51. The business’s fifty day moving average is $126.70 and its two-hundred day moving average is $116.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.80 and a quick ratio of 0.80. Blackstone Inc. has a 1 year low of $79.92 and a 1 year high of $133.56.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.16. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $2.48 billion. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. During the same period last year, the firm posted $1.07 earnings per share. Analysts anticipate that Blackstone Inc. will post 4.91 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Monday, February 5th were issued a dividend of $0.94 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.95%. Blackstone’s dividend payout ratio is presently 205.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. UBS Group restated a “neutral” rating and set a $135.00 price objective (down from $140.00) on shares of Blackstone in a research report on Tuesday. Oppenheimer cut shares of Blackstone from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 11th. Morgan Stanley raised their price objective on shares of Blackstone from $120.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. upped their price objective on Blackstone from $91.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Finally, BMO Capital Markets boosted their target price on shares of Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $119.25.

Insider Transactions at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ruth Porat acquired 232 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was acquired at an average price of $127.08 per share, with a total value of $29,482.56. Following the completion of the transaction, the director now directly owns 34,225 shares of the company’s stock, valued at approximately $4,349,313. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 2,587,168 shares of company stock valued at $37,816,476. Corporate insiders own 1.00% of the company’s stock.

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.