Blackstone Inc. (NYSE:BX) Stock Holdings Raised by Whittier Trust Co.

Whittier Trust Co. raised its position in Blackstone Inc. (NYSE:BX) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 319,305 shares of the asset manager’s stock after purchasing an additional 6,114 shares during the quarter. Whittier Trust Co.’s holdings in Blackstone were worth $48,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Blackstone by 2.0% during the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after buying an additional 1,290,324 shares in the last quarter. Capital World Investors boosted its position in shares of Blackstone by 7.5% in the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after acquiring an additional 2,546,886 shares during the period. Wulff Hansen & CO. increased its holdings in Blackstone by 12,192.7% in the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after buying an additional 7,281,128 shares during the period. Legal & General Group Plc lifted its position in shares of Blackstone by 2.3% during the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock worth $775,758,000 after purchasing an additional 141,616 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Blackstone by 0.5% during the first quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock worth $613,581,000 after purchasing an additional 21,450 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BX shares. Redburn Atlantic started coverage on Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective on the stock. Wells Fargo & Company increased their target price on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Barclays upped their target price on shares of Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Citigroup boosted their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $155.38.

Blackstone Stock Down 0.8 %

NYSE:BX traded down $1.35 during trading hours on Monday, reaching $171.01. The company had a trading volume of 2,126,377 shares, compared to its average volume of 3,446,177. The firm has a market cap of $122.21 billion, a price-to-earnings ratio of 60.39, a P/E/G ratio of 1.24 and a beta of 1.51. The business’s 50-day simple moving average is $147.01 and its two-hundred day simple moving average is $133.31. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $175.94.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.93 earnings per share. On average, equities analysts expect that Blackstone Inc. will post 4.46 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be given a dividend of $0.86 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is presently 121.55%.

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.