Terra Nova Asset Management LLC Sells 535 Shares of Blackstone Inc. (NYSE:BX)

Terra Nova Asset Management LLC lowered its position in shares of Blackstone Inc. (NYSE:BX) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,920 shares of the asset manager’s stock after selling 535 shares during the quarter. Blackstone comprises 1.9% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 18th biggest holding. Terra Nova Asset Management LLC’s holdings in Blackstone were worth $2,215,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BX. Exchange Traded Concepts LLC lifted its position in shares of Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after buying an additional 206 shares during the last quarter. Halpern Financial Inc. raised its holdings in shares of Blackstone by 327.1% in the 3rd quarter. Halpern Financial Inc. now owns 252 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 193 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Blackstone in the 4th quarter valued at about $33,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Blackstone in the 2nd quarter valued at about $25,000. Finally, Family CFO Inc bought a new position in shares of Blackstone during the 3rd quarter valued at about $33,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock opened at $131.38 on Friday. Blackstone Inc. has a 1 year low of $79.29 and a 1 year high of $133.56. The firm has a market cap of $93.89 billion, a price-to-earnings ratio of 71.79, a PEG ratio of 1.05 and a beta of 1.51. The stock’s 50-day moving average is $125.60 and its two-hundred day moving average is $116.00. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80.

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

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 12th. Shareholders of record on Monday, February 5th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Friday, February 2nd. This is a positive change from Blackstone’s previous quarterly dividend of $0.80. Blackstone’s dividend payout ratio (DPR) is 205.46%.

Insider Activity at Blackstone

In other news, Director Joseph Baratta sold 28,852 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $128.05, for a total value of $3,694,498.60. Following the completion of the sale, the director now owns 982,221 shares of the company’s stock, valued at approximately $125,773,399.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Ruth Porat purchased 232 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were acquired at an average price of $127.08 per share, for a total transaction of $29,482.56. Following the completion of the acquisition, the director now directly owns 34,225 shares of the company’s stock, valued at $4,349,313. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Baratta sold 28,852 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $128.05, for a total transaction of $3,694,498.60. Following the completion of the transaction, the director now owns 982,221 shares in the company, valued at approximately $125,773,399.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,587,168 shares of company stock worth $37,816,476. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Oppenheimer lowered Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. UBS Group lifted their price objective on Blackstone from $134.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Morgan Stanley lifted their price objective on Blackstone from $120.00 to $144.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Piper Sandler reiterated an “overweight” rating and set a $150.00 price objective on shares of Blackstone in a research note on Wednesday, December 20th. Finally, The Goldman Sachs Group lowered Blackstone from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $115.00 to $128.00 in a report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $119.53.

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.