Blackstone Inc. (NYSE:BX) Stock Holdings Lifted by Diversified Trust Co

Diversified Trust Co grew its stake in shares of Blackstone Inc. (NYSE:BX) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,804 shares of the asset manager’s stock after purchasing an additional 143 shares during the period. Diversified Trust Co’s holdings in Blackstone were worth $1,348,000 as of its most recent SEC filing.

A number of other institutional investors 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 valued at $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Blackstone during the 2nd quarter valued at about $26,000. EdgeRock Capital LLC purchased a new stake in shares of Blackstone in the second quarter worth approximately $27,000. Bank & Trust Co purchased a new position in Blackstone during the second quarter valued at approximately $29,000. Finally, Ridgewood Investments LLC acquired a new position in Blackstone in the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In related 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Up 0.2 %

BX opened at $149.44 on Wednesday. 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 Inc. has a 1-year low of $88.59 and a 1-year high of $161.25. The business has a 50 day moving average of $142.79 and a 200-day moving average of $131.54. The stock has a market capitalization of $106.80 billion, a price-to-earnings ratio of 52.81, a P/E/G ratio of 1.34 and a beta of 1.51.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). The firm 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%. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 EPS. As a group, sell-side analysts anticipate that Blackstone Inc. will post 4.57 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were paid a $0.82 dividend. The ex-dividend date was Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.19%. Blackstone’s dividend payout ratio is currently 115.90%.

Analyst Upgrades and Downgrades

BX has been the topic of several research analyst reports. Wells Fargo & Company started coverage on shares of Blackstone in a report on Thursday, September 12th. They set an “overweight” rating and a $163.00 price target on the stock. Barclays upped their target price on Blackstone from $141.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft boosted their price target on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Morgan Stanley raised their price objective on shares of Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Finally, Bank of America increased their price target on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $133.06.

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.