Blackstone Inc. (NYSE:BX) Shares Acquired by Trustmark National Bank Trust Department

Trustmark National Bank Trust Department boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 5.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,100 shares of the asset manager’s stock after purchasing an additional 100 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Blackstone were worth $322,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BX. Landscape Capital Management L.L.C. acquired a new stake in shares of Blackstone in the 3rd quarter valued at approximately $2,008,000. Intech Investment Management LLC purchased a new position in Blackstone during the third quarter worth $631,000. Citizens Financial Group Inc. RI grew its position in shares of Blackstone by 22.2% in the third quarter. Citizens Financial Group Inc. RI now owns 17,238 shares of the asset manager’s stock valued at $2,640,000 after purchasing an additional 3,126 shares during the period. First Horizon Advisors Inc. boosted its holdings in Blackstone by 8.7% in the third quarter. First Horizon Advisors Inc. now owns 3,676 shares of the asset manager’s stock valued at $563,000 after acquiring an additional 295 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Blackstone by 1.5% in the third quarter. Advisors Asset Management Inc. now owns 78,203 shares of the asset manager’s stock valued at $11,975,000 after acquiring an additional 1,140 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on BX shares. Bank of America boosted their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. TD Cowen boosted their price objective on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday, October 18th. Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Redburn Atlantic assumed coverage on Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus price target 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 that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Performance

NYSE BX opened at $194.21 on Friday. The firm has a market capitalization of $140.22 billion, a price-to-earnings ratio of 66.74, a P/E/G ratio of 1.57 and a beta of 1.49. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm’s 50 day simple moving average is $164.90 and its 200 day simple moving average is $141.94. Blackstone Inc. has a 1 year low of $105.51 and a 1 year high of $194.64.

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

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were given a $0.86 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 1.77%. Blackstone’s payout ratio is currently 118.21%.

Blackstone Company 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.