Massmutual Trust Co. FSB ADV Has $254,000 Stake in Blackstone Inc. (NYSE:BX)

Massmutual Trust Co. FSB ADV raised its stake in Blackstone Inc. (NYSE:BX) by 9.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,931 shares of the asset manager’s stock after buying an additional 174 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Blackstone were worth $254,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mather Group LLC. raised its stake in shares of Blackstone by 1.2% in the 1st quarter. Mather Group LLC. now owns 7,113 shares of the asset manager’s stock valued at $931,000 after acquiring an additional 87 shares in the last quarter. UNIVEST FINANCIAL Corp grew its stake in Blackstone by 2.9% in the 4th quarter. UNIVEST FINANCIAL Corp now owns 3,320 shares of the asset manager’s stock valued at $435,000 after buying an additional 95 shares during the last quarter. Marino Stram & Associates LLC raised 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 acquiring an additional 96 shares during the period. FFT Wealth Management LLC boosted its holdings in Blackstone by 2.0% during the fourth quarter. FFT Wealth Management LLC now owns 5,094 shares of the asset manager’s stock valued at $667,000 after acquiring an additional 99 shares during the period. Finally, Mayfair Advisory Group LLC increased its stake in shares of Blackstone by 2.7% in the fourth 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. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Blackstone Trading Up 1.4 %

Shares of BX opened at $124.66 on Friday. The firm has a market capitalization of $89.09 billion, a PE ratio of 44.05, a price-to-earnings-growth ratio of 1.03 and a beta of 1.53. Blackstone Inc. has a 12-month low of $87.40 and a 12-month high of $133.56. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $122.02 and its 200-day simple moving average is $123.98.

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

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were issued a $0.83 dividend. The ex-dividend date was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.66%. Blackstone’s payout ratio is presently 117.31%.

Insider Activity

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

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.