Trust Point Inc. Sells 507 Shares of Blackstone Inc. (NYSE:BX)

Trust Point Inc. lowered its stake in Blackstone Inc. (NYSE:BX) by 9.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,637 shares of the asset manager’s stock after selling 507 shares during the quarter. Trust Point Inc.’s holdings in Blackstone were worth $710,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Chilton Capital Management LLC bought a new stake in shares of Blackstone in the 1st quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Blackstone in the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC bought a new stake in shares of Blackstone in the 2nd quarter worth approximately $27,000. West Financial Advisors LLC bought a new stake in shares of Blackstone during the third quarter valued at approximately $27,000. Finally, Bank & Trust Co bought a new stake in shares of Blackstone during the second quarter valued at approximately $29,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 1.5 %

BX opened at $172.35 on Friday. The stock’s fifty day moving average is $147.01 and its two-hundred day moving average is $133.22. The company has a market capitalization of $123.17 billion, a P/E ratio of 60.90, a PEG ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $175.94. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS 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 analysts’ expectations of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 earnings per share. Analysts forecast that Blackstone Inc. will post 4.46 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be given a $0.86 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.00%. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Blackstone news, 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 completion of the transaction, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph Baratta sold 116,448 shares of Blackstone 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 transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BX shares. Bank of America lifted their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday. TD Cowen boosted their target price on Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a report on Friday. The Goldman Sachs Group boosted their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday. Citigroup boosted their target price on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $152.41.

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.