Sanibel Captiva Trust Company Inc. Raises Stock Position in Blackstone Inc. (NYSE:BX)

Sanibel Captiva Trust Company Inc. raised its position in shares of Blackstone Inc. (NYSE:BX) by 66.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,983 shares of the asset manager’s stock after purchasing an additional 13,997 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Blackstone were worth $5,357,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Moseley Investment Management Inc. boosted its holdings in shares of Blackstone by 0.7% in the 2nd quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock valued at $1,391,000 after buying an additional 74 shares in the last quarter. Patrick M Sweeney & Associates Inc. grew its holdings in Blackstone by 0.6% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock worth $1,713,000 after purchasing an additional 80 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Blackstone by 0.6% during the 2nd quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock valued at $1,686,000 after purchasing an additional 80 shares during the last quarter. WR Wealth Planners LLC grew its stake in Blackstone by 23.7% during the 2nd quarter. WR Wealth Planners LLC now owns 439 shares of the asset manager’s stock worth $54,000 after buying an additional 84 shares during the last quarter. Finally, Beaumont Asset Management L.L.C. raised its stake in Blackstone by 1.3% in the second quarter. Beaumont Asset Management L.L.C. now owns 6,672 shares of the asset manager’s stock valued at $826,000 after buying an additional 84 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

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 value of $17,561,522.88. Following the sale, the director now directly owns 799,749 shares in the company, 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 Securities & Exchange Commission, which is available through this link. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $4,610,900.00. Following the sale, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This trade 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 corporate insiders.

Analysts Set New Price Targets

BX has been the topic of several research analyst reports. Morgan Stanley boosted their price target on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Barclays increased their price objective on shares of Blackstone from $141.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Monday. Redburn Atlantic started coverage on Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price on the stock. The Goldman Sachs Group upped their price objective on Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $133.41.

Blackstone Stock Performance

Shares of BX stock opened at $148.41 on Thursday. The firm has a market cap of $106.06 billion, a price-to-earnings ratio of 52.44, a PEG ratio of 1.34 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $161.25. The stock’s 50-day moving average is $142.95 and its two-hundred day moving average is $131.69.

Blackstone (NYSE:BX) last posted 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). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the previous year, the company posted $0.93 earnings per share. Blackstone’s revenue was up 166.9% compared to the same quarter last year. Analysts predict that Blackstone Inc. will post 4.57 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders 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 yield of 2.21%. Blackstone’s dividend payout ratio is currently 115.90%.

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.