Heartland Bank & Trust Co Has $829,000 Stock Position in Blackstone Inc. $BX

by · The Cerbat Gem

Heartland Bank & Trust Co cut its position in Blackstone Inc. (NYSE:BX – Free Report) by 2.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,544 shares of the asset manager’s stock after selling 135 shares during the quarter. Heartland Bank & Trust Co’s holdings in Blackstone were worth $829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC grew its stake in Blackstone by 519,669.1% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock valued at $10,490,411,000 after buying an additional 70,118,948 shares during the last quarter. Vanguard Group Inc. grew its position in Blackstone by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 67,997,581 shares of the asset manager’s stock worth $9,504,702,000 after purchasing an additional 1,102,949 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Blackstone by 16.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock worth $739,761,000 after purchasing an additional 742,829 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Blackstone by 4.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,291,546 shares of the asset manager’s stock worth $599,872,000 after purchasing an additional 182,526 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Blackstone by 2.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,162,867 shares of the asset manager’s stock worth $581,886,000 after purchasing an additional 117,724 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In related news, major shareholder Private Multi-Asset Blackstone acquired 2,538,071 shares of the stock in a transaction on Monday, September 22nd. The stock was purchased at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the transaction, the insider owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. The trade was a 51.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Baratta sold 113,000 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the completion of the sale, the director owned 695,757 shares of the company’s stock, valued at $122,237,547.33. The trade was a 13.97% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 3,727,877 shares of company stock worth $95,046,625 and have sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is owned by insiders.

Blackstone Trading Up 2.8%

Shares of BX stock opened at $158.13 on Tuesday. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a market capitalization of $116.56 billion, a P/E ratio of 42.51, a P/E/G ratio of 1.25 and a beta of 1.77. The firm has a 50-day moving average price of $172.29 and a 200 day moving average price of $154.42. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX – Get Free Report) last announced its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The firm had revenue of $2.49 billion during the quarter. Research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, August 4th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, August 4th. This is a boost from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio is 110.75%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler decreased their price target on shares of Blackstone from $181.00 to $173.00 and set a “neutral” rating on the stock in a research report on Thursday. BMO Capital Markets initiated coverage on shares of Blackstone in a report on Friday, October 3rd. They set an “outperform” rating and a $190.00 price objective for the company. TD Cowen reduced their price objective on shares of Blackstone from $215.00 to $208.00 and set a “buy” rating for the company in a report on Wednesday, October 8th. Evercore ISI raised their price objective on shares of Blackstone from $165.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Finally, JMP Securities raised their price objective on shares of Blackstone from $180.00 to $195.00 and gave the stock a “market outperform” rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $179.06.

Check Out Our Latest Stock Report on Blackstone

Blackstone Company Profile

(Free Report)

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.

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