Private Trust Co. NA Has $1.80 Million Position in Blackstone Inc. (NYSE:BX)

Private Trust Co. NA reduced its holdings in Blackstone Inc. (NYSE:BX) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,733 shares of the asset manager’s stock after selling 101 shares during the quarter. Private Trust Co. NA’s holdings in Blackstone were worth $1,797,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Wulff Hansen & CO. increased its position in shares of Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after buying an additional 7,281,128 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after purchasing an additional 4,173,971 shares during the period. The Manufacturers Life Insurance Company grew its stake in Blackstone by 213.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock worth $170,345,000 after purchasing an additional 937,084 shares during the period. Mackenzie Financial Corp lifted its stake in Blackstone by 468.4% in the second quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock valued at $137,114,000 after buying an additional 912,685 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Blackstone by 7,917.6% during 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 period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of several research analyst reports. UBS Group increased their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. BMO Capital Markets boosted their price target on shares of Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a research report on Wednesday, October 9th. Finally, Citigroup boosted their price objective on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and a consensus target price of $157.63.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated 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 directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Blackstone Trading Down 3.0 %

NYSE BX opened at $193.12 on Tuesday. Blackstone Inc. has a one year low of $105.51 and a one year high of $200.96. The business’s fifty day moving average is $166.63 and its 200-day moving average is $143.28. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $139.43 billion, a price-to-earnings ratio of 66.36, a PEG ratio of 1.69 and a beta of 1.49.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Equities research analysts predict that Blackstone Inc. will post 4.4 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a dividend of $0.86 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 1.78%. Blackstone’s dividend payout ratio is presently 118.21%.

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.