NBC Securities Inc. Sells 124 Shares of Blackstone Inc. (NYSE:BX)

NBC Securities Inc. lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 2.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,545 shares of the asset manager’s stock after selling 124 shares during the period. NBC Securities Inc.’s holdings in Blackstone were worth $728,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BX. Moody National Bank Trust Division increased its stake in shares of Blackstone by 10.7% in the 1st quarter. Moody National Bank Trust Division now owns 10,582 shares of the asset manager’s stock valued at $1,390,000 after purchasing an additional 1,020 shares during the last quarter. Moseley Investment Management Inc. grew its position in Blackstone by 6.8% during the 1st quarter. Moseley Investment Management Inc. now owns 11,165 shares of the asset manager’s stock worth $1,467,000 after acquiring an additional 711 shares during the last quarter. Trust Co. of Toledo NA OH grew its position in Blackstone by 37.2% during the 1st quarter. Trust Co. of Toledo NA OH now owns 13,896 shares of the asset manager’s stock worth $1,826,000 after acquiring an additional 3,766 shares during the last quarter. Strategic Advocates LLC bought a new stake in Blackstone during the 1st quarter worth $284,000. Finally, Campbell Capital Management Inc. bought a new stake in Blackstone during the 1st quarter worth $1,971,000. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on BX. Barclays restated an “equal weight” rating and set a $125.00 price objective (down previously from $129.00) on shares of Blackstone in a research report on Friday, April 19th. TD Cowen cut their target price on Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a report on Friday, April 19th. UBS Group boosted their price objective on Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Morgan Stanley boosted their price objective on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Finally, Bank of America decreased their target price on Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average target price of $123.65.

Blackstone Price Performance

Blackstone stock opened at $122.90 on Thursday. Blackstone Inc. has a 12 month low of $87.40 and a 12 month high of $133.56. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The business’s 50 day simple moving average is $122.07 and its 200 day simple moving average is $123.97. The company has a market cap of $87.83 billion, a price-to-earnings ratio of 43.43, a PEG ratio of 1.03 and a beta of 1.53.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting the consensus estimate of $0.98. The business 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%. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share. Sell-side analysts forecast that Blackstone Inc. will post 4.77 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were given a $0.83 dividend. The ex-dividend date was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.70%. Blackstone’s dividend payout ratio (DPR) is presently 117.31%.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat acquired 219 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the transaction, the director now owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by company insiders.

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.