Enterprise Bank & Trust Co Boosts Stock Holdings in Blackstone Inc. (NYSE:BX)

Enterprise Bank & Trust Co increased its position in shares of Blackstone Inc. (NYSE:BX) by 16.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,340 shares of the asset manager’s stock after purchasing an additional 877 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Blackstone were worth $886,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC acquired a new position in Blackstone during the fourth quarter worth about $28,000. Centricity Wealth Management LLC acquired a new position in shares of Blackstone during the 4th quarter worth approximately $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Blackstone in the fourth quarter valued at approximately $33,000. Comprehensive Financial Planning Inc. PA acquired a new position in Blackstone during the fourth quarter worth $34,000. Finally, Roxbury Financial LLC acquired a new stake in shares of Blackstone in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Down 0.3%

NYSE BX opened at $138.45 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm has a market cap of $101.02 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 1.07 and a beta of 1.67. The firm has a 50 day simple moving average of $135.83 and a 200-day simple moving average of $158.84. Blackstone Inc. has a one year low of $115.66 and a one year high of $200.96.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.13). The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter last year, the firm earned $0.98 EPS. Equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Monday, April 28th. Blackstone’s payout ratio is presently 112.05%.

Insider Buying and Selling

In related news, insider John G. Finley sold 25,000 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the transaction, the insider now owns 475,336 shares in the company, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was acquired at an average price of $15.00 per share, for a total transaction of $24,900,000.00. Following the completion of the purchase, the insider now owns 1,666,667 shares of the company’s stock, valued at $25,000,005. This represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BX shares. Bank of America dropped their price objective on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a report on Friday, April 4th. Cowen restated a “buy” rating on shares of Blackstone in a report on Monday, April 21st. Wells Fargo & Company upped their price objective on Blackstone from $139.00 to $153.00 and gave the company an “equal weight” rating in a report on Friday, May 23rd. Keefe, Bruyette & Woods cut their target price on Blackstone from $141.00 to $139.00 and set a “market perform” rating for the company in a research note on Tuesday, April 22nd. Finally, Citizens Jmp raised Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price objective for the company in a research report on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $155.65.

Blackstone Company 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.