Blackstone Inc. (NYSE:BX) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its stake in Blackstone Inc. (NYSE:BX) by 1.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 616,234 shares of the asset manager’s stock after selling 6,319 shares during the period. New York State Teachers Retirement System’s holdings in Blackstone were worth $94,364,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. West Financial Advisors LLC acquired a new stake in shares of Blackstone in the 3rd quarter worth approximately $27,000. Chilton Capital Management LLC purchased a new stake in Blackstone during the first quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Blackstone in the second quarter valued at $26,000. EdgeRock Capital LLC purchased a new stake in shares of Blackstone in the 2nd quarter worth about $27,000. Finally, Bank & Trust Co acquired a new position in Blackstone during the second quarter worth about $29,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Up 1.4 %

BX traded up $2.43 on Wednesday, reaching $172.24. 172,494 shares of the company’s stock were exchanged, compared to its average volume of 3,418,660. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. Blackstone Inc. has a twelve month low of $91.14 and a twelve month high of $175.94. The company’s 50 day moving average is $151.93 and its 200-day moving average is $135.37. The company has a market cap of $123.09 billion, a price-to-earnings ratio of 60.00, a PEG ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

The firm 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 represents a $3.44 dividend on an annualized basis and a yield of 2.00%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. Blackstone’s dividend payout ratio is 121.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BX shares. BMO Capital Markets raised their price objective on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their price objective on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley upped their target price on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. The Goldman Sachs Group boosted their price objective on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Bank of America lifted their target price on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $155.38.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $4,610,900.00. Following the completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

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.