Pinnacle Financial Partners Inc Has $6.03 Million Holdings in Blackstone Inc. (NYSE:BX)

Pinnacle Financial Partners Inc grew its holdings in Blackstone Inc. (NYSE:BX) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,394 shares of the asset manager’s stock after buying an additional 77 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Blackstone were worth $6,032,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Blackstone in the 2nd quarter valued at $26,000. EdgeRock Capital LLC bought a new stake in Blackstone during the second quarter worth about $27,000. West Financial Advisors LLC bought a new position in shares of Blackstone in the third quarter valued at approximately $27,000. Bank & Trust Co bought a new stake in Blackstone during the 2nd quarter worth approximately $29,000. Finally, Ridgewood Investments LLC acquired a new position in Blackstone in the second quarter worth $31,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX opened at $181.56 on Thursday. Blackstone Inc. has a twelve month low of $100.78 and a twelve month high of $183.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s 50 day moving average price is $158.78 and its two-hundred day moving average price is $139.01. The firm has a market cap of $131.09 billion, a P/E ratio of 62.39, a PEG ratio of 1.55 and a beta of 1.49.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. On average, analysts forecast that Blackstone Inc. will post 4.39 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a dividend of $0.86 per share. The ex-dividend date was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.89%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 118.21%.

Wall Street Analyst Weigh In

BX has been the subject of a number of research analyst reports. Barclays boosted their target price on shares of Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. increased their price objective on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday. BMO Capital Markets boosted their price objective on Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, Redburn Atlantic initiated coverage on shares of Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target for the company. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $157.63.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the 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 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 disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Company 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.