FineMark National Bank & Trust Sells 16,724 Shares of Blackstone Inc. (NYSE:BX)

FineMark National Bank & Trust cut its position in shares of Blackstone Inc. (NYSE:BX) by 21.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 61,631 shares of the asset manager’s stock after selling 16,724 shares during the quarter. FineMark National Bank & Trust’s holdings in Blackstone were worth $10,626,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BX. Bangor Savings Bank raised its holdings in shares of Blackstone by 187.5% in the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 105 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in Blackstone in the 4th quarter valued at $28,000. Centricity Wealth Management LLC acquired a new position in shares of Blackstone during the 4th quarter worth about $30,000. Berbice Capital Management LLC acquired a new stake in shares of Blackstone in the fourth quarter valued at about $34,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in Blackstone during the fourth quarter valued at approximately $34,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BX. BMO Capital Markets upped their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Wells Fargo & Company cut their price target on shares of Blackstone from $180.00 to $160.00 and set an “equal weight” rating for the company in a research note on Thursday, March 20th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and upped their target price for the company from $149.00 to $230.00 in a report on Monday, December 9th. Keefe, Bruyette & Woods lifted their price target on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. Finally, Piper Sandler raised their price objective on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and a consensus target price of $171.13.

Blackstone Stock Up 2.6 %

NYSE BX opened at $152.13 on Tuesday. The company has a market cap of $110.97 billion, a price-to-earnings ratio of 41.91, a PEG ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $163.26 and a 200-day moving average of $167.59.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, equities 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 declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were given a dividend of $1.44 per share. 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 annualized dividend and a dividend yield of 3.79%. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the stock in a transaction 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 purchase, the director now owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

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.