Trust Co of Kansas Buys New Position in Blackstone Inc. (NYSE:BX)

Trust Co of Kansas acquired a new position in Blackstone Inc. (NYSE:BX) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,399 shares of the asset manager’s stock, valued at approximately $214,000.

A number of other hedge funds have also modified their holdings of BX. Logan Capital Management Inc. increased its holdings in Blackstone by 37.5% during the 4th quarter. Logan Capital Management Inc. now owns 4,125 shares of the asset manager’s stock valued at $540,000 after purchasing an additional 1,125 shares in the last quarter. Regal Investment Advisors LLC increased its stake in shares of Blackstone by 7.9% in the 4th quarter. Regal Investment Advisors LLC now owns 3,006 shares of the asset manager’s stock valued at $394,000 after buying an additional 221 shares during the period. Cullen Capital Management LLC increased its stake in shares of Blackstone by 62.1% in the 4th quarter. Cullen Capital Management LLC now owns 5,571 shares of the asset manager’s stock valued at $729,000 after buying an additional 2,135 shares during the period. MGO One Seven LLC increased its stake in shares of Blackstone by 4.7% in the 4th quarter. MGO One Seven LLC now owns 23,647 shares of the asset manager’s stock valued at $3,096,000 after buying an additional 1,059 shares during the period. Finally, First Financial Bankshares Inc acquired a new stake in shares of Blackstone in the 4th quarter valued at $105,063,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Performance

Shares of Blackstone stock opened at $149.44 on Wednesday. The company has a market cap of $106.80 billion, a P/E ratio of 52.81, a PEG ratio of 1.34 and a beta of 1.51. The business has a 50-day moving average price of $142.79 and a two-hundred day moving average price of $131.54. 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.

Blackstone (NYSE:BX) last released 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). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the company earned $0.93 EPS. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. As a group, analysts anticipate that Blackstone Inc. will post 4.57 EPS 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 2.19%. Blackstone’s dividend payout ratio (DPR) is 115.90%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the 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 sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider John G. Finley sold 35,000 shares of Blackstone 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 transaction, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction 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 approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the topic of several recent research reports. Barclays raised their price target on Blackstone from $141.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Monday. Wells Fargo & Company began coverage on Blackstone in a report on Thursday, September 12th. They issued an “overweight” rating and a $163.00 price target on the stock. Morgan Stanley lifted their target price on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Bank of America boosted their price target on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Piper Sandler boosted their price target on Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report 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’s stock. Based on data from MarketBeat, Blackstone has a consensus 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.