Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $180,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 60.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,450 shares of the asset manager’s stock after selling 2,199 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Blackstone were worth $180,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PFG Advisors acquired a new position in shares of Blackstone in the third quarter worth approximately $226,000. State of Alaska Department of Revenue acquired a new position in shares of Blackstone in the 3rd quarter worth approximately $9,036,000. Everence Capital Management Inc. acquired a new stake in shares of Blackstone during the third quarter worth $463,000. Essex LLC acquired a new position in Blackstone in the third quarter valued at $381,000. Finally, Capital Investment Advisors LLC grew its holdings in Blackstone by 19.8% during the 3rd quarter. Capital Investment Advisors LLC now owns 16,904 shares of the asset manager’s stock worth $1,811,000 after acquiring an additional 2,796 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Performance

Shares of NYSE BX traded up $3.17 during midday trading on Tuesday, reaching $125.26. The company’s stock had a trading volume of 1,395,787 shares, compared to its average volume of 3,691,279. The firm has a 50 day moving average price of $126.31 and a 200-day moving average price of $118.06. The stock has a market capitalization of $89.52 billion, a P/E ratio of 43.14, a PEG ratio of 0.98 and a beta of 1.51. Blackstone Inc. has a 12-month low of $79.92 and a 12-month high of $133.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.80.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, meeting the consensus estimate of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the company earned $0.97 earnings per share. Blackstone’s revenue was up 166.9% compared to the same quarter last year. As a group, equities analysts predict that Blackstone Inc. will post 4.82 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is currently 132.86%.

Analyst Ratings Changes

BX has been the topic of several research analyst reports. Wells Fargo & Company upped their target price on Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. JMP Securities restated a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. Citigroup lowered shares of Blackstone from a “buy” rating to a “neutral” rating and upped their price objective for the company from $116.00 to $124.00 in a report on Friday, January 19th. BMO Capital Markets boosted their target price on Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. Finally, Piper Sandler decreased their price objective on Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $122.94.

Insider Buying and Selling

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Reginald J. Brown purchased 2,400 shares of Blackstone stock in a transaction dated Wednesday, February 21st. The shares were purchased at an average price of $125.62 per share, with a total value of $301,488.00. Following the completion of the transaction, the director now directly owns 16,949 shares in the company, valued at $2,129,133.38. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 2,587,168 shares of company stock valued at $37,816,476. Company insiders own 1.00% of the company’s stock.

Blackstone 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.