US Bancorp DE Sells 3,961 Shares of Blackstone Inc. (NYSE:BX)

Key Points

• US Bancorp DE has reduced its holdings in Blackstone Inc. by 2.6%, selling 3,961 shares in the first quarter, leaving it with a total of 150,468 shares worth approximately $21 million.
• Analysts have varying opinions on Blackstone's stock, with an average rating of "Hold" and a consensus price target of $170.12, while Piper Sandler increased its price objective to $181.00.
• Blackstone recently declared a quarterly dividend of $1.03 per share, increasing from the previous $0.93, resulting in a 2.4% dividend yield for shareholders.

US Bancorp DE lowered its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,468 shares of the asset manager's stock after selling 3,961 shares during the quarter. US Bancorp DE's holdings in Blackstone were worth $21,032,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. von Borstel & Associates Inc. bought a new stake in Blackstone during the first quarter valued at $28,000. Bernard Wealth Management Corp. bought a new stake in Blackstone during the fourth quarter valued at $34,000. Putney Financial Group LLC bought a new stake in Blackstone during the fourth quarter valued at $34,000. Garde Capital Inc. acquired a new position in shares of Blackstone during the first quarter valued at about $36,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Blackstone during the first quarter valued at about $36,000. Institutional investors own 70.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BX. Piper Sandler upped their price objective on shares of Blackstone from $157.00 to $181.00 and gave the company a "neutral" rating in a report on Monday, July 28th. The Goldman Sachs Group reiterated a "neutral" rating on shares of Blackstone in a report on Friday, July 25th. Cowen reiterated a "buy" rating on shares of Blackstone in a report on Monday, April 21st. Morgan Stanley dropped their price objective on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Finally, UBS Group lowered their target price on shares of Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $170.12.

Insider Transactions at Blackstone

In related news, Director Ruth Porat purchased 237 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was bought at an average price of $136.33 per share, for a total transaction of $32,310.21. Following the purchase, the director directly owned 37,067 shares in the company, valued at approximately $5,053,344.11. This trade represents a 0.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the sale, the insider owned 475,336 shares of the company's stock, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Blackstone Trading Down 1.5%

NYSE:BX opened at $170.42 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.75 and a current ratio of 0.74. The firm has a market cap of $124.35 billion, a price-to-earnings ratio of 45.81, a price-to-earnings-growth ratio of 1.39 and a beta of 1.70. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The firm has a 50-day moving average price of $152.55 and a two-hundred day moving average price of $150.68.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.11. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the business posted $0.98 EPS. Blackstone's quarterly revenue was up 32.7% compared to the same quarter last year. On average, equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, August 4th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, August 4th. This is an increase from Blackstone's previous quarterly dividend of $0.93. Blackstone's dividend payout ratio (DPR) is 100.00%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.