Border to Coast Pensions Partnership Ltd Sells 35,000 Shares of Blackstone Inc. (NYSE:BX)

Border to Coast Pensions Partnership Ltd trimmed its stake in Blackstone Inc. (NYSE:BX) by 41.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,000 shares of the asset manager’s stock after selling 35,000 shares during the quarter. Border to Coast Pensions Partnership Ltd’s holdings in Blackstone were worth $7,634,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Trust Co. of Vermont boosted its holdings in Blackstone by 3.1% during the third quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock worth $343,000 after purchasing an additional 67 shares during the last quarter. CVA Family Office LLC raised its position in Blackstone by 6.4% in the third quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock worth $187,000 after acquiring an additional 73 shares during the period. Moseley Investment Management Inc. raised its position in shares of Blackstone by 0.7% in the second quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock valued at $1,391,000 after purchasing an additional 74 shares during the period. Patrick M Sweeney & Associates Inc. raised its position in shares of Blackstone by 0.6% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after purchasing an additional 80 shares during the period. Finally, Signaturefd LLC raised its position in shares of Blackstone by 0.6% in the second quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock valued at $1,686,000 after purchasing an additional 80 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BX. UBS Group boosted their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Morgan Stanley boosted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, BMO Capital Markets boosted their price target on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research note on Friday. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average target price of $155.38.

Blackstone Trading Down 0.6 %

NYSE:BX traded down $1.01 during midday trading on Monday, reaching $171.35. 1,805,437 shares of the stock traded hands, compared to its average volume of 3,444,596. The company has a fifty day moving average of $147.01 and a 200 day moving average of $133.31. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $175.94. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $122.45 billion, a P/E ratio of 60.90, a PEG ratio of 1.24 and a beta of 1.51.

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

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a $0.86 dividend. The ex-dividend date of this dividend is Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 2.01%. Blackstone’s dividend payout ratio is 121.55%.

Insiders Place Their Bets

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were 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 of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.