Park National Corp OH Sells 941 Shares of Blackstone Inc. (NYSE:BX)

Park National Corp OH lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 29.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,294 shares of the asset manager’s stock after selling 941 shares during the quarter. Park National Corp OH’s holdings in Blackstone were worth $351,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BX. Emprise Bank bought a new position in shares of Blackstone during the third quarter valued at about $211,000. Mattson Financial Services LLC purchased a new stake in Blackstone in the 2nd quarter valued at about $1,177,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Blackstone by 7,917.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock worth $49,520,000 after buying an additional 395,011 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Blackstone in the second quarter valued at approximately $39,481,000. Finally, Brown Financial Advisors bought a new stake in Blackstone during the second quarter worth $720,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Price Performance

BX stock opened at $151.23 on Friday. Blackstone Inc. has a one year low of $88.59 and a one year high of $161.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market cap of $108.08 billion, a PE ratio of 53.44, a P/E/G ratio of 1.34 and a beta of 1.51. The firm has a 50 day simple moving average of $142.43 and a two-hundred day simple moving average of $131.15.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same period last year, the firm earned $0.93 EPS. On average, analysts predict that Blackstone Inc. will post 4.57 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were paid a dividend of $0.82 per share. The ex-dividend date was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.17%. Blackstone’s dividend payout ratio (DPR) is currently 115.90%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their target price on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Barclays increased their price objective on Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a report on Friday, July 19th. The Goldman Sachs Group boosted their target price on Blackstone from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, TD Cowen boosted their price objective on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Fourteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average price target of $131.17.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

About Blackstone

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.