New York State Common Retirement Fund Decreases Stake in Blackstone Inc. (NYSE:BX)

New York State Common Retirement Fund reduced its holdings in Blackstone Inc. (NYSE:BXFree Report) by 6.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,022,160 shares of the asset manager’s stock after selling 75,726 shares during the period. New York State Common Retirement Fund owned approximately 0.14% of Blackstone worth $109,514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BX. Ibex Wealth Advisors purchased a new position in Blackstone during the third quarter worth about $339,000. J. L. Bainbridge & Co. Inc. raised its stake in shares of Blackstone by 2.0% in the 3rd quarter. J. L. Bainbridge & Co. Inc. now owns 124,479 shares of the asset manager’s stock valued at $13,337,000 after acquiring an additional 2,476 shares during the period. Financial Counselors Inc. raised its stake in shares of Blackstone by 8.3% in the 3rd quarter. Financial Counselors Inc. now owns 9,838 shares of the asset manager’s stock valued at $1,054,000 after acquiring an additional 750 shares during the period. Metis Global Partners LLC raised its stake in shares of Blackstone by 110.4% in the 3rd quarter. Metis Global Partners LLC now owns 29,268 shares of the asset manager’s stock valued at $3,136,000 after acquiring an additional 15,359 shares during the period. Finally, SouthState Corp grew its holdings in shares of Blackstone by 35.0% in the third quarter. SouthState Corp now owns 3,280 shares of the asset manager’s stock valued at $351,000 after purchasing an additional 850 shares in the last quarter. 63.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BX. Jefferies Financial Group lifted their price objective on shares of Blackstone from $114.00 to $121.00 in a report on Tuesday, October 10th. Oppenheimer cut shares of Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. The Goldman Sachs Group cut shares of Blackstone from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $115.00 to $128.00 in a report on Wednesday, January 3rd. StockNews.com started coverage on shares of Blackstone in a report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Piper Sandler reiterated an “overweight” rating and set a $150.00 price target on shares of Blackstone in a report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus target price of $117.81.

Read Our Latest Report on Blackstone

Insiders Place Their Bets

In other Blackstone news, CAO David Payne sold 5,500 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $128.21, for a total transaction of $705,155.00. Following the sale, the chief accounting officer now directly owns 47,781 shares of the company’s stock, valued at approximately $6,126,002.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Down 0.9 %

BX stock opened at $126.00 on Wednesday. The company has a market cap of $89.53 billion, a price-to-earnings ratio of 69.51, a price-to-earnings-growth ratio of 3.18 and a beta of 1.52. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.80 and a quick ratio of 0.84. Blackstone Inc. has a 12 month low of $76.19 and a 12 month high of $133.53. The company has a fifty day moving average price of $120.60 and a 200 day moving average price of $109.40.

Blackstone (NYSE:BXGet Free Report) last posted its quarterly earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same period in the prior year, the company posted $1.07 EPS. Sell-side analysts expect that Blackstone Inc. will post 4.92 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 12th. Investors of record on Monday, February 5th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.98%. This is a boost from Blackstone’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, February 2nd. Blackstone’s dividend payout ratio is presently 174.86%.

Blackstone Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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