Bryn Mawr Capital Management LLC Sells 7,620 Shares of Blackstone Inc. (NYSE:BX)

Bryn Mawr Capital Management LLC lessened its stake in Blackstone Inc. (NYSE:BX) by 60.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,946 shares of the asset manager’s stock after selling 7,620 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Blackstone were worth $853,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bigelow Investment Advisors LLC lifted its position in shares of Blackstone by 7.0% during the 4th quarter. Bigelow Investment Advisors LLC now owns 4,024 shares of the asset manager’s stock valued at $694,000 after buying an additional 263 shares during the last quarter. Atlas Legacy Advisors LLC purchased a new stake in Blackstone during the fourth quarter valued at about $526,000. New York State Common Retirement Fund increased its stake in shares of Blackstone by 2.3% in the fourth quarter. New York State Common Retirement Fund now owns 894,657 shares of the asset manager’s stock worth $154,257,000 after purchasing an additional 19,800 shares in the last quarter. Proactive Wealth Strategies LLC raised its position in shares of Blackstone by 0.8% in the fourth quarter. Proactive Wealth Strategies LLC now owns 18,902 shares of the asset manager’s stock valued at $3,259,000 after purchasing an additional 155 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in Blackstone by 4.7% in the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,018 shares of the asset manager’s stock worth $348,000 after buying an additional 90 shares during the period. 70.00% of the stock is owned by institutional investors.

Blackstone Price Performance

Shares of Blackstone stock opened at $163.83 on Friday. The firm has a market capitalization of $118.28 billion, a PE ratio of 45.13, a price-to-earnings-growth ratio of 1.09 and a beta of 1.53. The business’s 50-day moving average price is $174.18 and its 200-day moving average price is $165.03. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Sell-side analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is 158.68%.

Analysts Set New Price Targets

BX has been the topic of several recent research reports. Barclays dropped their target price on Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company cut their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. TD Cowen raised shares of Blackstone from a “hold” rating to a “buy” rating and increased their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Piper Sandler boosted their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Finally, StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Blackstone has a consensus rating of “Hold” and an average price target of $172.38.

Insider Activity at Blackstone

In other news, Director Ruth Porat purchased 301 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.

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.