Patten & Patten Inc. TN Has $342,000 Holdings in Blackstone Inc. (NYSE:BX)

Patten & Patten Inc. TN raised its holdings in shares of Blackstone Inc. (NYSE:BXFree Report) by 19.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,609 shares of the asset manager’s stock after purchasing an additional 425 shares during the period. Patten & Patten Inc. TN’s holdings in Blackstone were worth $342,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Mirador Capital Partners LP raised its position in shares of Blackstone by 2.2% in the 3rd quarter. Mirador Capital Partners LP now owns 87,646 shares of the asset manager’s stock valued at $9,390,000 after acquiring an additional 1,862 shares during the period. WASHINGTON TRUST Co raised its position in shares of Blackstone by 7.0% in the 3rd quarter. WASHINGTON TRUST Co now owns 121,358 shares of the asset manager’s stock valued at $13,002,000 after acquiring an additional 7,907 shares during the period. Chicago Capital LLC bought a new stake in Blackstone during the 4th quarter worth approximately $3,734,000. Kampmann Melissa S. bought a new stake in Blackstone during the 3rd quarter worth approximately $2,314,000. Finally, The Manufacturers Life Insurance Company increased its stake in Blackstone by 1,722.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 504,441 shares of the asset manager’s stock worth $54,046,000 after purchasing an additional 476,768 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider John G. Finley sold 49,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total value of $6,268,570.00. Following the transaction, the insider now owns 393,143 shares in the company, valued at $50,294,783.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John G. Finley sold 49,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total value of $6,268,570.00. Following the transaction, the insider now owns 393,143 shares in the company, valued at $50,294,783.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,587,168 shares of company stock worth $37,816,476. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.2 %

Shares of Blackstone stock opened at $126.60 on Thursday. Blackstone Inc. has a 1 year low of $79.29 and a 1 year high of $133.56. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $90.47 billion, a price-to-earnings ratio of 69.18, a P/E/G ratio of 1.05 and a beta of 1.51. The business has a fifty day simple moving average of $126.47 and a two-hundred day simple moving average of $116.50.

Blackstone (NYSE:BXGet Free Report) last posted its earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter last year, the firm earned $1.07 earnings per share. Research analysts forecast that Blackstone Inc. will post 4.92 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Monday, February 5th were issued a dividend of $0.94 per share. The ex-dividend date was Friday, February 2nd. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.97%. This is an increase from Blackstone’s previous quarterly dividend of $0.80. Blackstone’s dividend payout ratio (DPR) is currently 205.46%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BX. TheStreet cut Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. TD Cowen initiated coverage on shares of Blackstone in a research note on Thursday, January 4th. They set a “market perform” rating and a $118.00 price target for the company. BMO Capital Markets raised their price target on shares of Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. Citigroup cut shares of Blackstone from a “buy” rating to a “neutral” rating and raised their price target for the stock from $116.00 to $124.00 in a research note on Friday, January 19th. Finally, Oppenheimer cut shares of Blackstone from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $119.25.

View Our Latest Stock Analysis on Blackstone

Blackstone Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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