Border to Coast Pensions Partnership Ltd Sells 35,000 Shares of Blackstone Inc. (NYSE:BX)

Border to Coast Pensions Partnership Ltd cut its holdings in Blackstone Inc. (NYSE:BX) by 41.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,000 shares of the asset manager’s stock after selling 35,000 shares during the quarter. Border to Coast Pensions Partnership Ltd’s holdings in Blackstone were worth $7,634,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trust Co. of Vermont boosted its position 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 worth $343,000 after purchasing an additional 67 shares in the last quarter. CVA Family Office LLC raised 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 worth $187,000 after acquiring an additional 73 shares during the period. Moseley Investment Management Inc. raised its holdings in shares of Blackstone by 0.7% during the second quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock worth $1,391,000 after acquiring an additional 74 shares during the period. Patrick M Sweeney & Associates Inc. raised its holdings in shares of Blackstone by 0.6% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock worth $1,713,000 after acquiring an additional 80 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Blackstone by 0.6% during the second quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock worth $1,686,000 after acquiring an additional 80 shares during the period. 70.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BX shares. Cowen restated a “hold” rating on shares of Blackstone in a report on Friday. UBS Group lifted their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a research note on Wednesday, October 9th. Evercore ISI lifted their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group boosted their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $155.38.

Blackstone Stock Performance

Shares of BX stock traded down $1.01 during midday trading on Monday, hitting $171.35. 1,805,437 shares of the company were exchanged, compared to its average volume of 3,444,596. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market capitalization of $122.45 billion, a P/E ratio of 60.90, a PEG ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $175.94. The firm’s 50 day moving average price is $147.01 and its two-hundred day moving average price is $133.31.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The business’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 EPS. As a group, equities research analysts anticipate that Blackstone Inc. will post 4.46 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a $0.86 dividend. The ex-dividend date of this dividend is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 2.01%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is currently 121.55%.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the company’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 transaction of $17,561,522.88. Following the sale, the director now directly owns 799,749 shares of the company’s stock, 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 insiders.

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.