Teacher Retirement System of Texas Has $11.41 Million Stock Position in Blackstone Inc. (NYSE:BX)

Teacher Retirement System of Texas lifted its stake in Blackstone Inc. (NYSE:BX) by 1,283.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 66,175 shares of the asset manager’s stock after acquiring an additional 61,390 shares during the quarter. Teacher Retirement System of Texas’ holdings in Blackstone were worth $11,410,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Glen Eagle Advisors LLC increased its position in Blackstone by 1.8% during the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after buying an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in shares of Blackstone by 0.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after acquiring an additional 59 shares during the period. Investmark Advisory Group LLC boosted its holdings in shares of Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares during the period. McIlrath & Eck LLC boosted its holdings in shares of Blackstone by 6.5% during the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after acquiring an additional 62 shares during the period. Finally, McAdam LLC boosted its holdings in shares of Blackstone by 3.9% during the fourth quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock worth $291,000 after acquiring an additional 63 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Down 0.1 %

Shares of NYSE:BX opened at $148.65 on Friday. The company has a market capitalization of $108.43 billion, a PE ratio of 40.95, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company has a fifty day moving average of $163.53 and a 200-day moving average of $167.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, equities analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were issued a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 3.87%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio is presently 158.68%.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat purchased 301 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. BMO Capital Markets boosted their price target on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. UBS Group upgraded Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Monday, March 17th. Barclays reiterated an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. Wells Fargo & Company cut their price target on Blackstone from $180.00 to $160.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Citigroup restated a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $171.13.

Blackstone Profile

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.