Lincoln Capital Corp Sells 240 Shares of Blackstone Inc. (NYSE:BX)

Lincoln Capital Corp decreased its stake in Blackstone Inc. (NYSE:BX) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,663 shares of the asset manager’s stock after selling 240 shares during the period. Lincoln Capital Corp’s holdings in Blackstone were worth $480,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Regal Investment Advisors LLC raised its position in shares of Blackstone by 4.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 2,561 shares of the asset manager’s stock worth $238,000 after acquiring an additional 105 shares in the last quarter. Secure Asset Management LLC lifted its position in Blackstone by 0.9% during the third quarter. Secure Asset Management LLC now owns 11,638 shares of the asset manager’s stock valued at $1,247,000 after buying an additional 108 shares during the period. Argonautica Private Wealth Management Inc. grew its position in shares of Blackstone by 0.3% in the 3rd quarter. Argonautica Private Wealth Management Inc. now owns 35,747 shares of the asset manager’s stock worth $3,830,000 after buying an additional 109 shares during the period. Sage Mountain Advisors LLC lifted its position in Blackstone by 2.0% during the 3rd quarter. Sage Mountain Advisors LLC now owns 5,619 shares of the asset manager’s stock valued at $602,000 after acquiring an additional 110 shares during the period. Finally, Valmark Advisers Inc. grew its holdings in Blackstone by 2.9% in the third quarter. Valmark Advisers Inc. now owns 3,975 shares of the asset manager’s stock worth $426,000 after purchasing an additional 113 shares during the period. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the topic of several recent analyst reports. Morgan Stanley increased their price objective on shares of Blackstone from $120.00 to $144.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Bank of America upped their price target on Blackstone from $146.00 to $147.00 and gave the company a “buy” rating in a report on Monday, March 4th. JPMorgan Chase & Co. upped their target price on shares of Blackstone from $91.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. The Goldman Sachs Group cut shares of Blackstone from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $115.00 to $128.00 in a report on Wednesday, January 3rd. Finally, Citigroup downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $116.00 to $124.00 in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $119.53.

Blackstone Price Performance

Shares of BX traded up $3.08 during mid-day trading on Wednesday, hitting $130.96. 2,145,863 shares of the stock were exchanged, compared to its average volume of 3,821,166. The firm has a 50-day moving average of $125.32 and a two-hundred day moving average of $115.89. Blackstone Inc. has a 52-week low of $79.29 and a 52-week high of $133.56. The company has a market cap of $93.59 billion, a PE ratio of 71.56, a price-to-earnings-growth ratio of 1.03 and a beta of 1.51. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.16. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $2.48 billion. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. During the same period last year, the company earned $1.07 EPS. On average, equities analysts predict that Blackstone Inc. will post 4.92 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Monday, February 5th were issued a dividend of $0.94 per share. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $3.76 dividend on an annualized basis and a yield of 2.87%. This is a boost from Blackstone’s previous quarterly dividend of $0.80. Blackstone’s payout ratio is presently 205.46%.

Insiders Place Their Bets

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Blackstone news, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the sale, the insider now owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The disclosure for this sale can be found here. Insiders have sold a total of 2,587,168 shares of company stock worth $37,816,476 over the last quarter. Company insiders own 1.00% of the company’s stock.

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.