Bridge Creek Capital Management LLC Has $9.84 Million Stock Position in Blackstone Inc. (NYSE:BX)

Bridge Creek Capital Management LLC trimmed its holdings in Blackstone Inc. (NYSE:BX) by 3.6% in the 4th quarter, HoldingsChannel reports. The firm owned 57,075 shares of the asset manager’s stock after selling 2,120 shares during the quarter. Blackstone makes up approximately 3.0% of Bridge Creek Capital Management LLC’s portfolio, making the stock its 4th largest holding. Bridge Creek Capital Management LLC’s holdings in Blackstone were worth $9,841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in BX. Sather Financial Group Inc raised its position in shares of Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after buying an additional 4,050 shares in the last quarter. Portside Wealth Group LLC purchased a new stake in Blackstone in the third quarter worth $201,000. Aljian Capital Management LLC bought a new position in Blackstone in the third quarter worth approximately $1,951,000. Icon Wealth Advisors LLC raised its holdings in shares of Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after acquiring an additional 18,117 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Blackstone by 3.2% during the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock valued at $179,089,000 after buying an additional 36,343 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Down 0.1 %

BX traded down $0.12 during mid-day trading on Monday, hitting $164.73. The stock had a trading volume of 2,026,166 shares, compared to its average volume of 2,590,659. The firm has a market capitalization of $118.94 billion, a price-to-earnings ratio of 56.61, a price-to-earnings-growth ratio of 1.63 and a beta of 1.53. Blackstone Inc. has a 1-year low of $114.88 and a 1-year high of $200.96. The stock’s fifty day simple moving average is $180.73 and its 200-day simple moving average is $156.98. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating the consensus estimate of $0.91 by $0.10. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, research analysts forecast that Blackstone Inc. will post 4.43 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 2.09%. Blackstone’s payout ratio is currently 118.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. The Goldman Sachs Group increased their price target on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Citigroup increased their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, Barclays decreased their price target on Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research note on Monday. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus price target of $170.50.

About Blackstone

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.