Blackstone Inc. $BX Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its position in Blackstone Inc. (NYSE:BX) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,195,709 shares of the asset manager’s stock after purchasing an additional 11,451 shares during the quarter. PNC Financial Services Group Inc. owned about 0.16% of Blackstone worth $178,854,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. 1248 Management LLC purchased a new position in shares of Blackstone during the first quarter worth $25,000. Family CFO Inc acquired a new stake in Blackstone during the 2nd quarter worth about $28,000. Wealth Preservation Advisors LLC acquired a new position in shares of Blackstone in the 1st quarter valued at about $28,000. Anderson Financial Strategies LLC acquired a new stake in Blackstone during the first quarter worth about $28,000. Finally, Livelsberger Financial Advisory acquired a new position in Blackstone in the second quarter valued at approximately $30,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. JMP Securities restated a “market outperform” rating and issued a $195.00 price target on shares of Blackstone in a research note on Friday, October 24th. Morgan Stanley increased their price target on Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a research report on Wednesday, October 8th. Finally, Citigroup dropped their price target on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Eleven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Blackstone has a consensus rating of “Moderate Buy” and a consensus target price of $179.74.

Blackstone Stock Down 0.5%

Shares of NYSE:BX opened at $144.29 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The business has a fifty day moving average of $164.30 and a two-hundred day moving average of $157.67. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The stock has a market cap of $106.55 billion, a P/E ratio of 41.23, a PEG ratio of 1.18 and a beta of 1.76.

Blackstone (NYSE:BX) last released its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The firm had revenue of $2.49 billion for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. On average, research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were given a dividend of $1.29 per share. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, November 3rd. Blackstone’s dividend payout ratio (DPR) is 147.43%.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 21,500 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the sale, the insider directly owned 453,836 shares in the company, valued at $77,814,720.56. This represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Baratta sold 113,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the transaction, the director directly owned 695,757 shares of the company’s stock, valued at $122,237,547.33. This represents a 13.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have bought a total of 2,565,141 shares of company stock worth $68,991,351 over the last quarter. 1.00% of the stock is owned by corporate insiders.

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.