Mosaic Financial Group LLC Has $939,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Mosaic Financial Group LLC cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 7.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,448 shares of the asset manager’s stock after selling 433 shares during the quarter. Mosaic Financial Group LLC’s holdings in Blackstone were worth $939,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. HighPoint Advisor Group LLC increased its stake in Blackstone by 5.3% during the fourth quarter. HighPoint Advisor Group LLC now owns 16,922 shares of the asset manager’s stock valued at $2,788,000 after acquiring an additional 857 shares during the period. Seven Mile Advisory grew its holdings in shares of Blackstone by 41.7% during the 4th quarter. Seven Mile Advisory now owns 3,115 shares of the asset manager’s stock worth $537,000 after purchasing an additional 917 shares in the last quarter. Summit Financial LLC raised its stake in shares of Blackstone by 34.1% in the fourth quarter. Summit Financial LLC now owns 15,522 shares of the asset manager’s stock valued at $2,676,000 after purchasing an additional 3,951 shares in the last quarter. Axiom Investors LLC DE boosted its stake in Blackstone by 61.2% during the fourth quarter. Axiom Investors LLC DE now owns 1,984,892 shares of the asset manager’s stock worth $342,235,000 after buying an additional 753,766 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Blackstone by 36.2% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 376 shares of the asset manager’s stock valued at $65,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other news, Director Ruth Porat acquired 301 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BX shares. StockNews.com lowered shares of Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and increased their target price for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Piper Sandler upped their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Wells Fargo & Company reduced their target price on shares of Blackstone from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 20th. Finally, Barclays reissued an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $171.13.

Blackstone Price Performance

Shares of BX stock opened at $139.89 on Tuesday. The firm has a market cap of $102.04 billion, a price-to-earnings ratio of 38.54, a PEG ratio of 1.07 and a beta of 1.55. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The stock has a 50-day moving average price of $160.06 and a 200 day moving average price of $167.67.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Research analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 4.12%. Blackstone’s dividend payout ratio is presently 158.68%.

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.