Blackstone Inc. (NYSE:BX) Shares Sold by Mosaic Financial Group LLC

Mosaic Financial Group LLC reduced its holdings in Blackstone Inc. (NYSE:BX) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,448 shares of the asset manager’s stock after selling 433 shares during the quarter. Mosaic Financial Group LLC’s holdings in Blackstone were worth $939,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Bangor Savings Bank increased its stake in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares during the period. Hager Investment Management Services LLC acquired a new position in shares of Blackstone during the 4th quarter valued at $28,000. Centricity Wealth Management LLC bought a new stake in shares of Blackstone in the 4th quarter worth $30,000. Roxbury Financial LLC bought a new position in Blackstone during the fourth quarter valued at about $34,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Blackstone in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BX shares. Barclays reaffirmed an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Piper Sandler upped their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods lifted their target price on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. Wells Fargo & Company decreased their price target on Blackstone from $180.00 to $160.00 and set an “equal weight” rating for the company in a research report on Thursday, March 20th. Finally, BMO Capital Markets upped their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and an average target price of $171.13.

Insiders Place Their Bets

In other news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE BX opened at $139.89 on Tuesday. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The business’s 50-day moving average price is $160.06 and its two-hundred day moving average price is $167.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The company has a market capitalization of $102.04 billion, a P/E ratio of 38.54, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last issued its quarterly earnings data 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 net margin of 20.99% and a return on equity of 19.58%. Analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a yield of 4.12%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio is presently 158.68%.

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.