Bank of New Hampshire Sells 125 Shares of Blackstone Inc. (NYSE:BX)

Bank of New Hampshire reduced its position in shares of Blackstone Inc. (NYSE:BX) by 16.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 635 shares of the asset manager’s stock after selling 125 shares during the quarter. Bank of New Hampshire’s holdings in Blackstone were worth $83,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Marino Stram & Associates LLC increased its holdings in Blackstone by 3.8% in the 4th quarter. Marino Stram & Associates LLC now owns 2,592 shares of the asset manager’s stock worth $339,000 after buying an additional 96 shares during the period. Mayfair Advisory Group LLC grew its stake in shares of Blackstone by 2.7% during the 4th quarter. Mayfair Advisory Group LLC now owns 3,776 shares of the asset manager’s stock worth $484,000 after purchasing an additional 100 shares during the period. Hartford Financial Management Inc. grew its stake in Blackstone by 23.0% in the 4th quarter. Hartford Financial Management Inc. now owns 534 shares of the asset manager’s stock valued at $70,000 after acquiring an additional 100 shares during the period. Bourgeon Capital Management LLC grew 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 valued at $28,000 after acquiring an additional 100 shares during the period. Finally, Pinnacle Financial Partners Inc lifted its holdings in Blackstone by 0.3% in the 4th quarter. Pinnacle Financial Partners Inc now owns 39,671 shares of the asset manager’s stock valued at $5,194,000 after purchasing an additional 102 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BX has been the topic of several analyst reports. Morgan Stanley lifted their price target on Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. TheStreet downgraded Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. Bank of America cut their price objective on Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Oppenheimer downgraded Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Finally, 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 report on Friday, January 26th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average target price of $123.65.

Blackstone Price Performance

BX stock traded down $0.42 on Thursday, reaching $123.36. 3,568,456 shares of the company’s stock were exchanged, compared to its average volume of 3,694,646. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The firm has a market cap of $88.16 billion, a PE ratio of 43.08, a P/E/G ratio of 1.03 and a beta of 1.51. Blackstone Inc. has a twelve month low of $79.92 and a twelve month high of $133.56. The stock has a fifty day moving average of $126.21 and a 200-day moving average of $118.24.

Blackstone (NYSE:BX) last released its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The firm’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.97 earnings per share. As a group, equities analysts predict that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.69%. Blackstone’s dividend payout ratio (DPR) is currently 132.86%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat acquired 232 shares of the stock in a transaction on Monday, February 12th. The stock was purchased at an average price of $127.08 per share, for a total transaction of $29,482.56. Following the purchase, the director now directly owns 34,225 shares in the company, valued at $4,349,313. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction on 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 transaction, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ruth Porat purchased 232 shares of the stock in a transaction dated Monday, February 12th. The shares were purchased at an average price of $127.08 per share, for a total transaction of $29,482.56. Following the completion of the transaction, the director now owns 34,225 shares in the company, valued at approximately $4,349,313. The disclosure for this purchase can be found here. Insiders sold a total of 2,587,168 shares of company stock worth $37,816,476 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

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.