Blackstone Inc. (NYSE:BX) Shares Bought by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 7.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,593 shares of the asset manager’s stock after purchasing an additional 7,928 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Blackstone were worth $18,619,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Chilton Capital Management LLC purchased a new position in Blackstone in the first quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Blackstone in the second quarter valued at $26,000. EdgeRock Capital LLC acquired a new stake in Blackstone in the second quarter valued at $27,000. West Financial Advisors LLC purchased a new position in Blackstone during the third quarter worth about $27,000. Finally, Bank & Trust Co purchased a new position in shares of Blackstone in the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In related news, insider John G. Finley sold 35,000 shares of the stock in a transaction on 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 transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the firm’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 sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $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. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. UBS Group boosted their price objective on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday. TD Cowen boosted their price objective on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research report on Friday. Finally, BMO Capital Markets boosted their price objective on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $155.38.

Blackstone Stock Performance

Blackstone stock traded down $1.66 during midday trading on Monday, reaching $170.70. 2,326,762 shares of the company’s stock were exchanged, compared to its average volume of 3,446,177. Blackstone Inc. has a 52 week low of $88.59 and a 52 week 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 firm has a market cap of $121.99 billion, a price-to-earnings ratio of 60.39, a P/E/G ratio of 1.24 and a beta of 1.51. The stock’s 50-day simple moving average is $147.01 and its 200 day simple moving average is $133.31.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). The company 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%. The company’s revenue was up 166.9% on a year-over-year basis. During the same quarter last year, the business earned $0.93 earnings per share. On average, analysts expect that Blackstone Inc. will post 4.46 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.02%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is 121.55%.

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.