Blackstone Inc. (NYSE:BX) Shares Sold by Renasant Bank

Renasant Bank lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,090 shares of the asset manager’s stock after selling 117 shares during the period. Renasant Bank’s holdings in Blackstone were worth $360,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Bangor Savings Bank grew its holdings in Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Blackstone in the 4th quarter worth about $28,000. Centricity Wealth Management LLC purchased a new position in Blackstone during the 4th quarter valued at about $30,000. Roxbury Financial LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at about $34,000. Finally, Berbice Capital Management LLC purchased a new position in shares of Blackstone during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling

In other news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BX. Barclays reissued an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. Piper Sandler boosted their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. JPMorgan Chase & Co. upped their price objective on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $172.38.

Blackstone Stock Performance

Blackstone stock opened at $136.47 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The company has a market cap of $99.54 billion, a price-to-earnings ratio of 37.60, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. The stock’s 50-day moving average is $166.60 and its 200-day moving average is $166.85.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Equities analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a $1.44 dividend. The ex-dividend date was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 4.22%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is 158.68%.

Blackstone Company 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.