53,442 Blackstone Inc. $BX Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in Blackstone Inc. (NYSE:BX) by 3.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,521,653 shares of the asset manager’s stock after selling 53,442 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Blackstone were worth $170,562,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Blackstone during the third quarter worth about $104,001,000. SFE Investment Counsel lifted its holdings in Blackstone by 1.4% during the 3rd quarter. SFE Investment Counsel now owns 76,664 shares of the asset manager’s stock worth $8,593,000 after purchasing an additional 1,076 shares during the last quarter. Profund Advisors LLC raised its stake in Blackstone by 12.3% in the 3rd quarter. Profund Advisors LLC now owns 6,990 shares of the asset manager’s stock worth $784,000 after purchasing an additional 765 shares in the last quarter. ProShare Advisors LLC grew its position in Blackstone by 0.4% during the third quarter. ProShare Advisors LLC now owns 156,432 shares of the asset manager’s stock worth $17,534,000 after buying an additional 621 shares in the last quarter. Finally, Vise Technologies Inc. lifted its position in Blackstone by 6.3% during the third quarter. Vise Technologies Inc. now owns 54,190 shares of the asset manager’s stock worth $6,074,000 after purchasing an additional 3,199 shares during the period. 70.00% of the stock is owned by institutional investors.

Blackstone Stock Down 0.0%

BX opened at $118.46 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.71 and a quick ratio of 0.72. The company’s 50-day moving average is $122.66 and its 200 day moving average is $124.46. Blackstone Inc. has a fifty-two week low of $101.73 and a fifty-two week high of $165.14. The firm has a market capitalization of $88.92 billion, a P/E ratio of 26.32, a PEG ratio of 1.51 and a beta of 1.59.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, October 22nd. The asset manager reported $1.32 EPS for the quarter, beating the consensus estimate of $1.26 by $0.06. Blackstone had a net margin of 22.11% and a return on equity of 23.16%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same quarter last year, the business posted $0.80 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. Research analysts expect that Blackstone Inc. will post 5.89 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Monday, November 2nd will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. This is a decrease from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date is Monday, November 2nd. Blackstone’s dividend payout ratio is 99.56%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Royal Bank Of Canada increased their price objective on shares of Blackstone from $161.00 to $169.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Citizens Jmp cut their price target on Blackstone from $190.00 to $165.00 and set a “market outperform” rating on the stock in a report on Thursday, July 9th. Piper Sandler set a $126.00 price objective on Blackstone in a report on Friday, October 23rd. Argus upped their target price on shares of Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, UBS Group increased their price objective on Blackstone from $116.00 to $118.00 and gave the stock a “neutral” rating in a research note on Friday, October 23rd. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $144.57.

Insider Buying and Selling at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of Blackstone stock in a transaction on Monday, September 28th. The stock was sold at an average price of $2.94, for a total transaction of $11,077,261.44. Following the sale, the insider directly owned 16,120 shares in the company, valued at $47,392.80. The trade was a 99.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Holdings Iv L.P. Blackstone purchased 191,695 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was bought at an average cost of $26.17 per share, for a total transaction of $5,016,658.15. Following the completion of the acquisition, the insider directly owned 8,895,478 shares in the company, valued at $232,794,659.26. The trade was a 2.20% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 464,792 shares of company stock valued at $12,205,945 and sold 4,077,276 shares valued at $37,573,644. 1.00% of the stock is owned by insiders.

Blackstone Company Profile

Blackstone Inc (NYSE:BX) is a global alternative asset management firm that provides investment and advisory services to institutional investors, companies, and qualified individual investors. The company manages capital across private equity, real estate, credit and insurance, infrastructure, hedge fund solutions, secondaries, and growth-oriented investments.

Blackstone invests in and manages portfolios of businesses, properties, infrastructure assets, and credit instruments across a range of industries.