Blackstone Inc. (NYSE:BX) Stake Reduced by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. lessened its stake in shares of Blackstone Inc. (NYSE:BX) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,670 shares of the asset manager’s stock after selling 314 shares during the period. Blackstone comprises 1.3% of Tealwood Asset Management Inc.’s investment portfolio, making the stock its 12th largest holding. Tealwood Asset Management Inc.’s holdings in Blackstone were worth $2,859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Chilton Capital Management LLC purchased a new stake in shares of Blackstone in the first quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone in the second quarter worth approximately $26,000. EdgeRock Capital LLC acquired a new position in Blackstone in the second quarter worth approximately $27,000. Bank & Trust Co acquired a new position in Blackstone in the second quarter worth approximately $29,000. Finally, Scarborough Advisors LLC acquired a new position in Blackstone in the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Tuesday, October 1st. The stock was 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 of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 35,000 shares of Blackstone 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 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 company insiders.

Blackstone Stock Performance

BX stock traded up $0.13 during midday trading on Tuesday, hitting $149.20. The stock had a trading volume of 359,868 shares, compared to its average volume of 3,426,411. The firm has a market capitalization of $106.63 billion, a price-to-earnings ratio of 52.67, a P/E/G ratio of 1.34 and a beta of 1.51. The stock has a 50-day simple moving average of $142.63 and a 200 day simple moving average of $131.42. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $161.25. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60.

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 analysts’ consensus estimates of $0.99 by ($0.03). The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The firm’s revenue was up 166.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 earnings per share. As a group, equities research analysts anticipate that Blackstone Inc. will post 4.57 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued a $0.82 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.20%. Blackstone’s dividend payout ratio is 115.90%.

Analysts Set New Price Targets

A number of equities analysts recently commented on BX shares. Deutsche Bank Aktiengesellschaft increased their price objective on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. The Goldman Sachs Group increased their price target on Blackstone from $130.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Bank of America increased their price target on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 19th. TD Cowen increased their price target on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company assumed coverage on shares of Blackstone in a research note on Thursday, September 12th. They issued an “overweight” rating and a $163.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $133.06.

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.