Lincoln Capital Corp Has $480,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Lincoln Capital Corp reduced its stake in Blackstone Inc. (NYSE:BX) by 6.1% during the 4th quarter, Holdings Channel reports. 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mirador Capital Partners LP increased its position in shares of Blackstone by 2.2% in the 3rd quarter. Mirador Capital Partners LP now owns 87,646 shares of the asset manager’s stock valued at $9,390,000 after buying an additional 1,862 shares in the last quarter. WASHINGTON TRUST Co lifted its holdings in shares of Blackstone by 7.0% during the 3rd quarter. WASHINGTON TRUST Co now owns 121,358 shares of the asset manager’s stock valued at $13,002,000 after purchasing an additional 7,907 shares in the last quarter. Kampmann Melissa S. acquired a new stake in Blackstone during the 3rd quarter worth approximately $2,314,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Blackstone by 1,722.9% in the third quarter. The Manufacturers Life Insurance Company now owns 504,441 shares of the asset manager’s stock valued at $54,046,000 after buying an additional 476,768 shares during the period. Finally, Kingswood Wealth Advisors LLC raised its holdings in shares of Blackstone by 536.5% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 13,181 shares of the asset manager’s stock worth $1,726,000 after acquiring an additional 11,110 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insider Activity

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction that occurred on 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 completion of 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 filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total value of $6,268,570.00. Following the transaction, the insider now directly owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The disclosure for this sale can be found here. In the last three months, insiders sold 2,587,168 shares of company stock worth $37,816,476. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. TheStreet cut shares of Blackstone from a “b” rating to a “c+” rating in a report on Thursday, January 25th. Oppenheimer cut shares of Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Keefe, Bruyette & Woods raised their price objective on Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a report on Friday, January 26th. Finally, BMO Capital Markets increased their price target on Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $119.53.

Blackstone Stock Performance

NYSE: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 company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80. The firm’s 50-day simple moving average is $125.32 and its 200 day simple moving average is $115.89. Blackstone Inc. has a fifty-two week low of $79.29 and a fifty-two week high of $133.56. The stock has a market capitalization of $93.59 billion, a price-to-earnings ratio of 71.56, a price-to-earnings-growth ratio of 1.03 and a beta of 1.51.

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

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Monday, February 5th were given 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 an increase from Blackstone’s previous quarterly dividend of $0.80. Blackstone’s dividend payout ratio is currently 205.46%.

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.