Enterprise Bank & Trust Co Acquires 1,262 Shares of Blackstone Inc. (NYSE:BX)

Enterprise Bank & Trust Co lifted its holdings in Blackstone Inc. (NYSE:BX) by 30.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,463 shares of the asset manager’s stock after purchasing an additional 1,262 shares during the period. Enterprise Bank & Trust Co’s holdings in Blackstone were worth $942,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. West Financial Advisors LLC purchased a new stake in Blackstone in the 3rd quarter worth approximately $27,000. Bangor Savings Bank grew its holdings in Blackstone by 187.5% during the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after buying an additional 105 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Blackstone during the 2nd quarter valued at approximately $39,000. Raleigh Capital Management Inc. grew its holdings in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in Blackstone during the 4th quarter valued at approximately $39,000. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Down 0.1 %

Shares of BX stock traded down $0.15 on Monday, hitting $164.70. The stock had a trading volume of 2,145,581 shares, compared to its average volume of 2,615,711. Blackstone Inc. has a one year low of $114.88 and a one year high of $200.96. The business has a 50 day moving average price of $180.73 and a 200 day moving average price of $156.98. The company has a market cap of $118.91 billion, a PE ratio of 56.60, a P/E/G ratio of 1.63 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. Research analysts anticipate that Blackstone Inc. will post 4.43 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 2.09%. Blackstone’s payout ratio is currently 118.21%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BX. UBS Group increased their price objective on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Cowen reissued a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Bank of America raised their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. StockNews.com raised shares of Blackstone from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Morgan Stanley raised their target price on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average target price of $170.50.

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.