Blackstone Inc. (NYSE:BX) is Community Bank & Trust Waco Texas’ 3rd Largest Position

Community Bank & Trust Waco Texas grew its position in Blackstone Inc. (NYSE:BX) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,729 shares of the asset manager’s stock after buying an additional 1,556 shares during the quarter. Blackstone accounts for approximately 2.8% of Community Bank & Trust Waco Texas’ holdings, making the stock its 3rd biggest holding. Community Bank & Trust Waco Texas’ holdings in Blackstone were worth $10,176,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bourgeon Capital Management LLC boosted its stake in Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Roble Belko & Company Inc purchased a new position in shares of Blackstone in the 4th quarter worth about $30,000. Exchange Traded Concepts LLC raised its holdings in shares of Blackstone by 763.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after purchasing an additional 206 shares during the period. Bruce G. Allen Investments LLC purchased a new position in shares of Blackstone in the 4th quarter worth about $33,000. Finally, Family CFO Inc purchased a new position in shares of Blackstone in the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction dated Sunday, March 3rd. The stock was 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 28,852 shares of the company’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 owns 982,221 shares of the company’s stock, valued at approximately $125,773,399.05. The disclosure for this sale can be found here. Insiders have sold 2,587,168 shares of company stock worth $37,816,476 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Trading Down 1.2 %

Shares of Blackstone stock traded down $1.49 on Wednesday, reaching $122.82. 747,212 shares of the company were exchanged, compared to its average volume of 3,679,247. The stock has a fifty day moving average price of $126.30 and a 200-day moving average price of $118.20. The firm has a market capitalization of $87.77 billion, a price-to-earnings ratio of 43.89, a price-to-earnings-growth ratio of 1.01 and a beta of 1.51. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a fifty-two week low of $79.92 and a fifty-two week high of $133.56.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. On average, analysts expect that Blackstone Inc. will post 4.8 EPS for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be paid a $0.83 dividend. The ex-dividend date is Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.70%. Blackstone’s dividend payout ratio (DPR) is currently 132.86%.

Analysts Set New Price Targets

BX has been the topic of several analyst reports. JMP Securities reiterated a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. JPMorgan Chase & Co. dropped their target price on Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Oppenheimer downgraded Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. Barclays restated an “equal weight” rating and set a $125.00 price objective (down from $129.00) on shares of Blackstone in a report on Friday, April 19th. Finally, TD Cowen dropped their price objective on Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a report on Friday, April 19th. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $122.94.

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.