FORVIS Wealth Advisors LLC Trims Stake in Blackstone Inc. (NYSE:BX)

FORVIS Wealth Advisors LLC decreased its holdings in shares of Blackstone Inc. (NYSE:BXFree Report) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,520 shares of the asset manager’s stock after selling 100 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in Blackstone were worth $330,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Chesley Taft & Associates LLC raised its position in Blackstone by 51.8% during the fourth quarter. Chesley Taft & Associates LLC now owns 75,712 shares of the asset manager’s stock valued at $9,912,000 after purchasing an additional 25,825 shares in the last quarter. Chapin Davis Inc. boosted its stake in Blackstone by 4.7% in the fourth quarter. Chapin Davis Inc. now owns 11,121 shares of the asset manager’s stock worth $1,456,000 after buying an additional 501 shares in the last quarter. Resource Consulting Group Inc. raised its stake in shares of Blackstone by 2.0% during the fourth quarter. Resource Consulting Group Inc. now owns 22,273 shares of the asset manager’s stock worth $2,916,000 after acquiring an additional 445 shares in the last quarter. Rockland Trust Co. bought a new position in shares of Blackstone during the 4th quarter valued at $239,000. Finally, Ausdal Financial Partners Inc. boosted its position in Blackstone by 57.6% during the fourth quarter. Ausdal Financial Partners Inc. now owns 5,859 shares of the asset manager’s stock valued at $767,000 after buying an additional 2,142 shares during the period. Hedge funds and other institutional investors own 63.35% of the company’s stock.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 49,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total value of $6,268,570.00. Following the transaction, the insider now directly owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Joseph Baratta sold 28,852 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the completion of the sale, the director now owns 982,221 shares in the company, valued at $125,773,399.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the sale, the insider now owns 393,143 shares in the company, valued at approximately $50,294,783.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,587,168 shares of company stock valued at $37,816,476. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the topic of several recent research reports. Piper Sandler restated an “overweight” rating and set a $150.00 price target on shares of Blackstone in a research report on Wednesday, December 20th. TD Cowen began coverage on shares of Blackstone in a report on Thursday, January 4th. They set a “market perform” rating and a $118.00 price target for the company. Morgan Stanley boosted their price objective on shares of Blackstone from $120.00 to $144.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. UBS Group raised their target price on Blackstone from $134.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Finally, BMO Capital Markets lifted their price objective on Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $119.53.

Read Our Latest Stock Report on Blackstone

Blackstone Stock Performance

Shares of BX opened at $127.86 on Friday. The company has a market cap of $91.37 billion, a price-to-earnings ratio of 69.87, a P/E/G ratio of 1.02 and a beta of 1.51. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.67. Blackstone Inc. has a 12 month low of $79.29 and a 12 month high of $133.56. The business’s fifty day simple moving average is $124.76 and its two-hundred day simple moving average is $115.38.

Blackstone (NYSE:BXGet Free Report) last announced its quarterly earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter last year, the firm posted $1.07 EPS. Research analysts anticipate that Blackstone Inc. will post 4.92 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 12th. Shareholders of record on Monday, February 5th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 2.94%. This is a boost from Blackstone’s previous quarterly dividend of $0.80. The ex-dividend date was Friday, February 2nd. Blackstone’s dividend payout ratio (DPR) is presently 205.46%.

Blackstone Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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