OLD Point Trust & Financial Services N A Has $8.48 Million Holdings in Blackstone Inc. (NYSE:BX)

OLD Point Trust & Financial Services N A lessened its stake in Blackstone Inc. (NYSE:BX - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 49,195 shares of the asset manager's stock after selling 2,610 shares during the quarter. Blackstone accounts for about 3.0% of OLD Point Trust & Financial Services N A's holdings, making the stock its 7th biggest position. OLD Point Trust & Financial Services N A's holdings in Blackstone were worth $8,482,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of BX. AMG National Trust Bank acquired a new position in Blackstone in the third quarter worth approximately $233,000. Caprock Group LLC lifted its stake in shares of Blackstone by 58.1% in the 3rd quarter. Caprock Group LLC now owns 6,734 shares of the asset manager's stock valued at $1,031,000 after purchasing an additional 2,474 shares during the last quarter. BIP Wealth LLC acquired a new position in Blackstone during the third quarter worth $237,000. Fifth Third Wealth Advisors LLC lifted its position in shares of Blackstone by 27.0% in the third quarter. Fifth Third Wealth Advisors LLC now owns 7,591 shares of the asset manager's stock worth $1,162,000 after buying an additional 1,615 shares during the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Blackstone during the 3rd quarter valued at about $66,000. Institutional investors and hedge funds own 70.00% of the company's stock.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat bought 301 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the transaction, the director now owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.00% of the company's stock.

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Blackstone Price Performance

BX stock traded up $3.84 during trading on Monday, hitting $152.13. 3,072,027 shares of the stock traded hands, compared to its average volume of 3,279,263. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market cap of $110.97 billion, a price-to-earnings ratio of 41.91, a P/E/G ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The company has a 50 day simple moving average of $163.26 and a 200 day simple moving average of $167.59.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. Equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were issued a $1.44 dividend. This is a boost from Blackstone's previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.79%. Blackstone's dividend payout ratio (DPR) is currently 158.68%.

Analysts Set New Price Targets

A number of research firms have recently commented on BX. StockNews.com lowered shares of Blackstone from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. BMO Capital Markets boosted their price objective on Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. upped their price target on Blackstone from $149.00 to $154.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Keefe, Bruyette & Woods boosted their target price on shares of Blackstone from $174.00 to $177.00 and gave the stock a "market perform" rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company dropped their price objective on shares of Blackstone from $180.00 to $160.00 and set an "equal weight" rating on the stock in a report on Thursday. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Blackstone has a consensus rating of "Hold" and an average target price of $171.13.

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.