First PREMIER Bank Buys 119 Shares of Blackstone Inc. (NYSE:BX)

First PREMIER Bank grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,119 shares of the asset manager’s stock after buying an additional 119 shares during the period. First PREMIER Bank’s holdings in Blackstone were worth $937,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of BX. Logan Capital Management Inc. boosted its holdings in shares of Blackstone by 37.5% during the 4th quarter. Logan Capital Management Inc. now owns 4,125 shares of the asset manager’s stock worth $540,000 after buying an additional 1,125 shares in the last quarter. Regal Investment Advisors LLC raised its position in shares of Blackstone by 7.9% during the fourth quarter. Regal Investment Advisors LLC now owns 3,006 shares of the asset manager’s stock worth $394,000 after purchasing an additional 221 shares during the period. Cullen Capital Management LLC raised its position in shares of Blackstone by 62.1% during the fourth quarter. Cullen Capital Management LLC now owns 5,571 shares of the asset manager’s stock worth $729,000 after purchasing an additional 2,135 shares during the period. MGO One Seven LLC raised its position in shares of Blackstone by 4.7% during the fourth quarter. MGO One Seven LLC now owns 23,647 shares of the asset manager’s stock worth $3,096,000 after purchasing an additional 1,059 shares during the period. Finally, First Financial Bankshares Inc acquired a new position in shares of Blackstone during the fourth quarter worth approximately $105,063,000. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BX. TD Cowen upped their target price on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Piper Sandler lowered Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target for the company. in a research report on Wednesday. Bank of America upped their target price on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company started coverage on shares of Blackstone in a research report on Thursday, September 12th. They set an “overweight” rating and a $163.00 target price on the stock. Twelve 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 an average target price of $133.06.

Insider Buying and Selling

In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John G. Finley sold 35,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Blackstone Stock Performance

Shares of BX stock opened at $147.63 on Wednesday. The stock has a market capitalization of $105.50 billion, a P/E ratio of 52.81, a PEG ratio of 1.34 and a beta of 1.51. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The firm’s 50 day moving average is $142.95 and its 200 day moving average is $131.69. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $161.25.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The business’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 earnings per share. On average, sell-side analysts anticipate that Blackstone Inc. will post 4.57 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Monday, July 29th. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

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.