Sumitomo Mitsui Trust Group Inc. Has $243.70 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Sumitomo Mitsui Trust Group Inc. grew its stake in Blackstone Inc. (NYSE:BX) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,591,452 shares of the asset manager’s stock after purchasing an additional 24,199 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Blackstone were worth $243,699,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, 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 value of $17,561,522.88. Following the transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

BX has been the subject of several research analyst reports. Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Morgan Stanley upped their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. TD Cowen boosted their price target on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. Bank of America increased their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $157.63.

Blackstone Stock Performance

BX opened at $180.78 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. The business’s 50-day simple moving average is $157.93 and its 200 day simple moving average is $138.60. The firm has a market capitalization of $130.52 billion, a PE ratio of 62.12, a PEG ratio of 1.52 and a beta of 1.49. Blackstone Inc. has a 52-week low of $96.93 and a 52-week high of $183.96.

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

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.90%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

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.