Parkside Financial Bank & Trust Buys 261 Shares of Blackstone Inc. (NYSE:BX)

Parkside Financial Bank & Trust raised its holdings in shares of Blackstone Inc. (NYSE:BXGet Rating) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,752 shares of the asset manager’s stock after purchasing an additional 261 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Blackstone were worth $476,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of BX. Palumbo Wealth Management LLC boosted its stake in Blackstone by 1.0% in the 4th quarter. Palumbo Wealth Management LLC now owns 8,132 shares of the asset manager’s stock worth $1,052,000 after purchasing an additional 83 shares in the last quarter. Israel Discount Bank of New York boosted its stake in Blackstone by 1.7% in the 1st quarter. Israel Discount Bank of New York now owns 5,537 shares of the asset manager’s stock worth $703,000 after purchasing an additional 90 shares in the last quarter. Bordeaux Wealth Advisors LLC boosted its stake in Blackstone by 6.2% in the 1st quarter. Bordeaux Wealth Advisors LLC now owns 1,681 shares of the asset manager’s stock worth $214,000 after purchasing an additional 98 shares in the last quarter. Legacy Private Trust Co. boosted its stake in Blackstone by 4.5% in the 1st quarter. Legacy Private Trust Co. now owns 2,330 shares of the asset manager’s stock worth $296,000 after purchasing an additional 100 shares in the last quarter. Finally, Beech Hill Advisors Inc. boosted its stake in Blackstone by 0.4% in the 1st quarter. Beech Hill Advisors Inc. now owns 25,900 shares of the asset manager’s stock worth $3,288,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 61.87% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Holdings L.P. Blackstone III sold 41,500 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $32.94, for a total value of $1,367,010.00. Following the completion of the sale, the insider now owns 898,993 shares of the company’s stock, valued at approximately $29,612,829.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Joseph Baratta sold 71,223 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $93.95, for a total value of $6,691,400.85. Following the completion of the sale, the director now owns 1,141,965 shares of the company’s stock, valued at approximately $107,287,611.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Holdings L.P. Blackstone III sold 41,500 shares of the business’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $32.94, for a total transaction of $1,367,010.00. Following the completion of the sale, the insider now directly owns 898,993 shares of the company’s stock, valued at approximately $29,612,829.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 161,423 shares of company stock valued at $9,660,717. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BX has been the subject of a number of recent analyst reports. Barclays initiated coverage on shares of Blackstone in a research note on Wednesday, August 31st. They issued an “overweight” rating and a $120.00 target price for the company. The Goldman Sachs Group decreased their price objective on shares of Blackstone from $136.00 to $112.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Wells Fargo & Company lifted their price objective on shares of Blackstone to $102.00 in a research note on Friday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Blackstone from $147.00 to $153.00 and gave the company a “buy” rating in a research note on Friday, August 12th. Finally, Keefe, Bruyette & Woods cut shares of Blackstone from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $127.00 to $115.00 in a research note on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Blackstone currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.33.

Blackstone Price Performance

NYSE:BX opened at $96.90 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $67.99 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 1.79 and a beta of 1.45. The company has a 50 day moving average price of $98.89 and a 200-day moving average price of $107.54. Blackstone Inc. has a 1-year low of $86.97 and a 1-year high of $149.78.

Blackstone (NYSE:BXGet Rating) last posted its earnings results on Thursday, July 21st. The asset manager reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.02. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.46 billion. Blackstone had a net margin of 22.48% and a return on equity of 20.80%. The business’s quarterly revenue was up 96.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 EPS. Equities research analysts forecast that Blackstone Inc. will post 5.16 EPS for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 8th. Stockholders of record on Monday, August 1st were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.24%. The ex-dividend date of this dividend was Friday, July 29th. Blackstone’s dividend payout ratio (DPR) is 92.70%.

Blackstone Profile

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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.

See Also

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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