Poehling Capital Management INC. Sells 1,879 Shares of Blackstone Inc. (NYSE:BX)

Poehling Capital Management INC. cut its holdings in Blackstone Inc. (NYSE:BXFree Report) by 34.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,625 shares of the asset manager’s stock after selling 1,879 shares during the period. Poehling Capital Management INC.’s holdings in Blackstone were worth $475,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Blackstone by 30.2% in the third quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock valued at $6,652,526,000 after acquiring an additional 14,396,655 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Blackstone by 13.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 14,825,769 shares of the asset manager’s stock valued at $1,588,433,000 after purchasing an additional 1,744,652 shares during the last quarter. Northern Trust Corp lifted its stake in Blackstone by 43.9% in the third quarter. Northern Trust Corp now owns 6,877,288 shares of the asset manager’s stock valued at $736,833,000 after purchasing an additional 2,098,150 shares during the last quarter. Brown Advisory Inc. lifted its stake in Blackstone by 5.3% in the fourth quarter. Brown Advisory Inc. now owns 6,429,749 shares of the asset manager’s stock valued at $841,783,000 after purchasing an additional 322,860 shares during the last quarter. Finally, Norges Bank purchased a new position in Blackstone in the fourth quarter valued at approximately $708,859,000. 70.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BX has been the topic of several research analyst reports. Bank of America dropped their price objective on Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. UBS Group increased their target price on Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Argus increased their target price on Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Morgan Stanley increased their target price on Blackstone from $144.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. lowered their price objective on Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $123.65.

Read Our Latest Research Report on Blackstone

Blackstone Trading Down 0.2 %

Blackstone stock traded down $0.21 during midday trading on Tuesday, reaching $119.00. The stock had a trading volume of 318,120 shares, compared to its average volume of 3,598,596. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 52-week low of $83.43 and a 52-week high of $133.56. The firm has a market cap of $85.04 billion, a price-to-earnings ratio of 42.12, a price-to-earnings-growth ratio of 1.01 and a beta of 1.53. The company has a fifty day moving average of $123.98 and a 200 day moving average of $123.01.

Blackstone (NYSE:BXGet Free Report) last issued its earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, hitting analysts’ consensus estimates of $0.98. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.56 billion. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The company’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same period last year, the company posted $0.97 earnings per share. On average, analysts anticipate that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were issued a $0.83 dividend. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.79%. Blackstone’s payout ratio is 117.31%.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat bought 219 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was acquired at an average price of $119.48 per share, with a total value of $26,166.12. Following the completion of the purchase, the director now directly owns 34,445 shares of the company’s stock, valued at $4,115,488.60. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.

About Blackstone

(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.

See Also

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXFree Report).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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