Rockefeller Capital Management L.P. Sells 828 Shares of Blackstone Inc. (NYSE:BX)

Rockefeller Capital Management L.P. lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 0.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 653,155 shares of the asset manager’s stock after selling 828 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Blackstone were worth $112,550,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Blackstone during the fourth quarter valued at approximately $974,448,000. Raymond James Financial Inc. purchased a new position in Blackstone during the 4th quarter valued at $316,257,000. Vanguard Group Inc. increased its stake in Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock worth $11,533,972,000 after purchasing an additional 889,286 shares during the period. FMR LLC boosted its stake in shares of Blackstone by 38.8% during the fourth quarter. FMR LLC now owns 2,990,238 shares of the asset manager’s stock valued at $515,577,000 after purchasing an additional 835,170 shares during the period. Finally, Proficio Capital Partners LLC increased its stake in Blackstone by 2,057.7% in the 4th quarter. Proficio Capital Partners LLC now owns 844,755 shares of the asset manager’s stock worth $145,653,000 after buying an additional 805,604 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Blackstone

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

Blackstone Stock Down 0.2 %

Shares of BX stock opened at $127.19 on Friday. 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 cap of $92.77 billion, a price-to-earnings ratio of 35.04, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. The stock’s fifty day moving average price is $149.11 and its 200 day moving average price is $165.63. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS 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%. On average, research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a $1.44 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 4.53%. Blackstone’s dividend payout ratio (DPR) is 158.68%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BX shares. Barclays reduced their target price on shares of Blackstone from $186.00 to $129.00 and set an “equal weight” rating on the stock in a research report on Monday, April 7th. BMO Capital Markets upped their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Citigroup cut their price target on Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a research note on Tuesday. TD Cowen cut their target price on shares of Blackstone from $233.00 to $147.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Piper Sandler lowered their price target on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and an average target price of $157.22.

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.