Blackstone Inc. (NYSE:BX) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its position in Blackstone Inc. (NYSE:BX) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,080 shares of the asset manager’s stock after selling 1,673 shares during the quarter. Amalgamated Bank’s holdings in Blackstone were worth $25,877,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Jennison Associates LLC lifted its position in shares of Blackstone by 111.1% during the fourth quarter. Jennison Associates LLC now owns 973,348 shares of the asset manager’s stock worth $167,825,000 after purchasing an additional 512,165 shares during the last quarter. Castleark Management LLC acquired a new position in shares of Blackstone in the 3rd quarter worth approximately $67,472,000. State Street Corp raised its position in shares of Blackstone by 1.2% during the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock valued at $4,597,028,000 after acquiring an additional 348,751 shares in the last quarter. Geode Capital Management LLC increased its stake in Blackstone by 2.3% during the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after purchasing an additional 336,308 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its position in shares of Blackstone by 15,294.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 236,453 shares of the asset manager’s stock worth $36,208,000 after buying an additional 234,917 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In related news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Down 0.7 %

BX stock opened at $157.27 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The company has a market cap of $113.55 billion, a price-to-earnings ratio of 43.32, a PEG ratio of 1.07 and a beta of 1.53. Blackstone Inc. has a 12-month low of $115.82 and a 12-month high of $200.96. The company has a 50 day moving average of $172.96 and a two-hundred day moving average of $165.93.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, equities analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a dividend of $1.44 per share. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.66%. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. BMO Capital Markets boosted their price objective on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Citigroup reissued a “hold” rating on shares of Blackstone in a report on Friday, February 7th. UBS Group lifted their price objective on shares of Blackstone from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods raised their price target on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus target price of $172.38.

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.