IFM Investors Pty Ltd Increases Stake in Blackstone Inc. (NYSE:BX)

IFM Investors Pty Ltd grew its position in shares of Blackstone Inc. (NYSE:BX) by 0.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 141,786 shares of the asset manager’s stock after buying an additional 416 shares during the quarter. IFM Investors Pty Ltd’s holdings in Blackstone were worth $21,712,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Raleigh Capital Management Inc. boosted its holdings in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares during the period. Trust Co. of Vermont boosted its holdings in shares of Blackstone by 3.1% during the third quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock valued at $343,000 after acquiring an additional 67 shares during the period. CVA Family Office LLC boosted its holdings in shares of Blackstone by 6.4% during the third quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock valued at $187,000 after acquiring an additional 73 shares during the period. Moseley Investment Management Inc. grew its position in 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. Finally, Patrick M Sweeney & Associates Inc. grew its position in Blackstone by 0.6% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX traded up $1.82 during mid-day trading on Thursday, hitting $168.74. The company’s stock had a trading volume of 1,250,145 shares, compared to its average volume of 3,437,760. The firm has a market capitalization of $120.59 billion, a PE ratio of 60.05, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a one year low of $88.59 and a one year high of $175.94. The stock’s 50-day moving average is $149.16 and its two-hundred day moving average is $134.15. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.04%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is presently 121.55%.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now 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 legal filing with the SEC, which is accessible through this link. In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The trade was 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 link. Also, Director Joseph Baratta sold 116,448 shares of the business’s 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 transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on BX. BMO Capital Markets increased their target price on shares of Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. TD Cowen upped their price target on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday, October 18th. Evercore ISI upped their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Barclays upped their price target on shares of Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company upped their price objective on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and an average price target of $155.38.

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.