Blackstone Inc. (NYSE:BX) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System decreased its position in shares of Blackstone Inc. (NYSE:BX) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 616,234 shares of the asset manager’s stock after selling 6,319 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Blackstone worth $94,364,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chilton Capital Management LLC purchased a new stake in shares of Blackstone during the 1st quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Blackstone during the 2nd quarter worth about $26,000. EdgeRock Capital LLC acquired a new position in Blackstone in the second quarter valued at about $27,000. West Financial Advisors LLC acquired a new stake in shares of Blackstone during the third quarter valued at about $27,000. Finally, Bank & Trust Co acquired a new position in shares of Blackstone in the 2nd quarter worth approximately $29,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley upped their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Evercore ISI upped their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target for the company. in a research note on Wednesday, October 9th. Finally, Cowen reiterated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Blackstone has a consensus rating of “Hold” and an average target price of $155.38.

Insiders Place Their Bets

In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. 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 currently owned by corporate insiders.

Blackstone Stock Up 1.4 %

Shares of NYSE BX traded up $2.43 during mid-day trading on Wednesday, reaching $172.24. The company had a trading volume of 172,494 shares, compared to its average volume of 3,418,660. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 52-week low of $91.14 and a 52-week high of $175.94. The stock has a market cap of $123.09 billion, a P/E ratio of 60.00, a PEG ratio of 1.24 and a beta of 1.51. The firm has a 50 day simple moving average of $151.93 and a two-hundred day simple moving average of $135.37.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be given a $0.86 dividend. The ex-dividend date is Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.00%. Blackstone’s dividend payout ratio is 121.55%.

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.