First Hawaiian Bank Sells 3,900 Shares of Blackstone Inc. (NYSE:BX)

First Hawaiian Bank trimmed its holdings in Blackstone Inc. (NYSE:BX) by 36.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,845 shares of the asset manager’s stock after selling 3,900 shares during the period. First Hawaiian Bank’s holdings in Blackstone were worth $899,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in BX. Envestnet Portfolio Solutions Inc. bought a new position in Blackstone in the 3rd quarter valued at about $2,209,000. FMR LLC increased its position in Blackstone by 15.9% during the 3rd quarter. FMR LLC now owns 1,255,442 shares of the asset manager’s stock worth $134,508,000 after buying an additional 171,802 shares during the period. V Square Quantitative Management LLC bought a new stake in Blackstone in the 3rd quarter valued at about $185,000. Acadian Asset Management LLC lifted its position in shares of Blackstone by 111.0% during the 3rd quarter. Acadian Asset Management LLC now owns 5,071 shares of the asset manager’s stock valued at $541,000 after acquiring an additional 2,668 shares during the period. Finally, Regal Investment Advisors LLC increased its position in shares of Blackstone by 8.7% in the third quarter. Regal Investment Advisors LLC now owns 2,785 shares of the asset manager’s stock worth $298,000 after purchasing an additional 224 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Blackstone Trading Up 1.4 %

NYSE BX opened at $124.66 on Friday. Blackstone Inc. has a 12 month low of $87.40 and a 12 month high of $133.56. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $89.09 billion, a PE ratio of 44.05, a price-to-earnings-growth ratio of 1.03 and a beta of 1.53. The business’s 50-day moving average price is $122.02 and its two-hundred day moving average price is $123.98.

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

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Monday, April 29th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Friday, April 26th. Blackstone’s dividend payout ratio is 117.31%.

Analysts Set New Price Targets

Several research firms have commented on BX. Morgan Stanley raised their target price on shares of Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. JMP Securities restated a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Piper Sandler decreased their price target on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. Argus raised their price objective on Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Bank of America dropped their target price on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a report on Friday, April 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and a consensus target price of $123.65.

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.