Independence Bank of Kentucky Reduces Position in Blackstone Inc. (NYSE:BX)

Independence Bank of Kentucky trimmed its holdings in shares of Blackstone Inc. (NYSE:BXFree Report) by 10.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 759 shares of the asset manager’s stock after selling 86 shares during the quarter. Independence Bank of Kentucky’s holdings in Blackstone were worth $99,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Fairfield Bush & CO. increased its holdings in Blackstone by 56.1% in the first quarter. Fairfield Bush & CO. now owns 4,255 shares of the asset manager’s stock valued at $540,000 after buying an additional 1,530 shares during the last quarter. United Bank increased its holdings in Blackstone by 34.2% in the first quarter. United Bank now owns 8,441 shares of the asset manager’s stock valued at $1,072,000 after buying an additional 2,153 shares during the last quarter. Yousif Capital Management LLC increased its holdings in Blackstone by 10.4% in the first quarter. Yousif Capital Management LLC now owns 10,969 shares of the asset manager’s stock valued at $1,392,000 after buying an additional 1,034 shares during the last quarter. Insight Advisors LLC PA increased its holdings in Blackstone by 1.6% in the first quarter. Insight Advisors LLC PA now owns 18,446 shares of the asset manager’s stock valued at $2,341,000 after buying an additional 286 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. increased its holdings in Blackstone by 12.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 38,429 shares of the asset manager’s stock valued at $4,878,000 after buying an additional 4,366 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blackstone

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

Blackstone Stock Performance

BX opened at $126.60 on Thursday. The company has a market capitalization of $90.47 billion, a price-to-earnings ratio of 69.18, a price-to-earnings-growth ratio of 1.05 and a beta of 1.51. 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 $79.29 and a 1-year high of $133.56. The business has a 50 day moving average price of $126.47 and a two-hundred day moving average price of $116.50.

Blackstone (NYSE:BXGet Free Report) last posted its quarterly earnings results 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 company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $2.48 billion. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. During the same quarter in the prior year, the company earned $1.07 earnings per share. Research analysts predict that Blackstone Inc. will post 4.92 EPS 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 paid a dividend of $0.94 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.80. This represents a $3.76 annualized dividend and a yield of 2.97%. The ex-dividend date was Friday, February 2nd. Blackstone’s payout ratio is 205.46%.

Analyst Ratings Changes

A number of brokerages have commented on BX. TheStreet downgraded Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. UBS Group restated a “neutral” rating and issued a $135.00 target price (down from $140.00) on shares of Blackstone in a research note on Tuesday. Keefe, Bruyette & Woods lifted their target price on Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. The Goldman Sachs Group downgraded Blackstone from a “buy” rating to a “neutral” rating and lifted their target price for the company from $115.00 to $128.00 in a research note on Wednesday, January 3rd. Finally, TD Cowen started coverage on Blackstone in a research report on Thursday, January 4th. They set a “market perform” rating and a $118.00 price objective for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $119.25.

View Our Latest Stock Report on Blackstone

Blackstone 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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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