Webster Bank N. A. Sells 125 Shares of Blackstone Inc. (NYSE:BX)

Webster Bank N. A. decreased its position in Blackstone Inc. (NYSE:BX) by 20.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 496 shares of the asset manager’s stock after selling 125 shares during the quarter. Webster Bank N. A.’s holdings in Blackstone were worth $65,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Northwest Financial Advisors bought a new position in shares of Blackstone during the 4th quarter valued at approximately $25,000. Bourgeon Capital Management LLC raised its stake in shares of Blackstone by 86.2% in the fourth 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. Roble Belko & Company Inc purchased a new position in shares of Blackstone during the 4th quarter worth about $30,000. Advantage Trust Co purchased a new stake in Blackstone in the 4th quarter worth about $30,000. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock worth $31,000 after acquiring an additional 206 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Trading Down 0.3 %

Shares of Blackstone stock opened at $123.80 on Friday. The firm has a fifty day moving average price of $122.37 and a 200 day moving average price of $124.50. The stock has a market cap of $88.47 billion, a PE ratio of 43.75, a price-to-earnings-growth ratio of 1.04 and a beta of 1.53. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $133.56.

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

Blackstone Cuts Dividend

The company also recently disclosed 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 2.68%. Blackstone’s payout ratio is 117.31%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Bank of America cut their price objective on Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Morgan Stanley lifted their price target on shares of Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. 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. UBS Group increased 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. Finally, Piper Sandler dropped their target price on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $123.65.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat purchased 219 shares of the stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

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.