Stock Yards Bank & Trust Co. Raises Stock Holdings in Blackstone Inc. (NYSE:BX)

Stock Yards Bank & Trust Co. boosted its holdings in Blackstone Inc. (NYSE:BX) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,296 shares of the asset manager’s stock after purchasing an additional 2,315 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Blackstone were worth $3,312,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BX. Bourgeon Capital Management LLC lifted its holdings in Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Exchange Traded Concepts LLC raised its position 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 purchasing an additional 206 shares during the period. Family CFO Inc acquired a new stake in shares of Blackstone during the 3rd quarter worth approximately $33,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Blackstone during the 4th quarter worth approximately $33,000. Finally, Provence Wealth Management Group acquired a new stake in shares of Blackstone during the 3rd quarter worth approximately $36,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of research reports. Oppenheimer cut Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. UBS Group raised their target price on Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. TD Cowen lowered their target price on Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research report on Friday. Citigroup cut Blackstone from a “buy” rating to a “neutral” rating and raised their target price for the company from $116.00 to $124.00 in a research report on Friday, January 19th. Finally, Piper Sandler lowered their target price on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Thirteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $122.94.

Insider Transactions at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ruth Porat bought 232 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was acquired at an average cost of $127.08 per share, with a total value of $29,482.56. Following the transaction, the director now owns 34,225 shares of the company’s stock, valued at $4,349,313. The disclosure for this purchase can be found here. Insiders sold a total of 2,587,168 shares of company stock valued at $37,816,476 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Up 3.1 %

Shares of BX stock opened at $122.09 on Tuesday. The stock has a market cap of $87.25 billion, a PE ratio of 43.14, a price-to-earnings-growth ratio of 0.98 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 0.79. The business’s fifty day moving average is $126.31 and its 200-day moving average is $118.06. Blackstone Inc. has a 1 year low of $79.92 and a 1 year high of $133.56.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The company’s revenue was up 166.9% compared to the same quarter last year. During the same period last year, the company posted $0.97 EPS. Equities analysts expect that Blackstone Inc. will post 4.82 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, April 26th. Blackstone’s dividend payout ratio is presently 132.86%.

About Blackstone

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.