Blackstone Inc. (NYSE:BX) Shares Sold by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. decreased its holdings in Blackstone Inc. (NYSE:BX) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 653,983 shares of the asset manager’s stock after selling 25,439 shares during the period. Rockefeller Capital Management L.P. owned about 0.09% of Blackstone worth $100,109,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BX. Sather Financial Group Inc raised its holdings in Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after acquiring an additional 4,050 shares in the last quarter. Portside Wealth Group LLC acquired a new stake in Blackstone in the third quarter valued at $201,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Blackstone by 1.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after acquiring an additional 7,692 shares in the last quarter. Aljian Capital Management LLC acquired a new stake in shares of Blackstone during the 3rd quarter worth about $1,951,000. Finally, Icon Wealth Advisors LLC boosted its holdings in Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares in the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Down 1.4 %

Shares of NYSE BX opened at $189.02 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $168.63 and a 200 day moving average price of $144.38. Blackstone Inc. has a 52 week low of $106.00 and a 52 week high of $200.96. The stock has a market capitalization of $136.47 billion, a price-to-earnings ratio of 64.96, a price-to-earnings-growth ratio of 1.61 and a beta of 1.49.

Blackstone (NYSE:BX) last released its quarterly 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 for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. Equities research analysts anticipate that Blackstone Inc. will post 4.4 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.82%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s dividend payout ratio is presently 118.21%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Cowen restated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Bank of America lifted their target price on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group raised their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. UBS Group raised their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Redburn Atlantic started coverage on shares of Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target for the company. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $157.63.

Insiders Place Their Bets

In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred 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. The trade was a 12.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

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.