M&T Bank Corp Has $25.24 Million Stake in Blackstone Inc. (NYSE:BX)

M&T Bank Corp lowered its stake in Blackstone Inc. (NYSE:BX - Free Report) by 26.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 180,580 shares of the asset manager's stock after selling 64,288 shares during the quarter. M&T Bank Corp's holdings in Blackstone were worth $25,241,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BX. Brighton Jones LLC lifted its position in shares of Blackstone by 34.6% in the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock worth $1,365,000 after purchasing an additional 2,035 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of Blackstone by 6.4% in the fourth quarter. Proficio Capital Partners LLC now owns 41,645 shares of the asset manager's stock worth $7,180,000 after purchasing an additional 2,494 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Blackstone by 12.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 155,953 shares of the asset manager's stock valued at $26,889,000 after acquiring an additional 17,019 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in Blackstone by 7.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 100,801 shares of the asset manager's stock valued at $17,380,000 after acquiring an additional 7,255 shares during the last quarter. Finally, Johnson Investment Counsel Inc. lifted its stake in Blackstone by 0.7% in the fourth quarter. Johnson Investment Counsel Inc. now owns 21,076 shares of the asset manager's stock valued at $3,634,000 after acquiring an additional 144 shares during the last quarter. Institutional investors own 70.00% of the company's stock.

Insider Activity

In related news, insider Private Credit Stra Blackstone purchased 1,660,000 shares of Blackstone stock in a transaction dated Thursday, May 1st. The shares were bought at an average cost of $15.00 per share, for a total transaction of $24,900,000.00. Following the purchase, the insider owned 1,666,667 shares in the company, valued at approximately $25,000,005. This trade represents a 24,898.76% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Finley sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the sale, the insider owned 475,336 shares in the company, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Price Performance

Blackstone stock traded down $1.85 during trading hours on Friday, reaching $162.21. 3,976,798 shares of the stock were exchanged, compared to its average volume of 3,889,852. The company has a market cap of $118.36 billion, a P/E ratio of 48.86, a price-to-earnings-growth ratio of 1.48 and a beta of 1.65. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.67. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The stock has a 50 day moving average of $143.68 and a two-hundred day moving average of $150.80.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). Blackstone had a return on equity of 19.84% and a net margin of 19.83%. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. Equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were paid a $0.93 dividend. The ex-dividend date was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.29%. Blackstone's payout ratio is currently 112.05%.

Analyst Ratings Changes

A number of brokerages have commented on BX. Barclays reiterated an "equal weight" rating on shares of Blackstone in a research note on Thursday. Evercore ISI increased their price objective on shares of Blackstone from $152.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday. Citizens Jmp raised shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 price objective on the stock in a research report on Tuesday, April 8th. TD Cowen dropped their price objective on shares of Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Finally, JMP Securities reissued a "market outperform" rating and issued a $165.00 price objective on shares of Blackstone in a research report on Thursday, April 24th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $161.29.

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.