Public Sector Pension Investment Board Has $19.25 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Public Sector Pension Investment Board raised its stake in shares of Blackstone Inc. (NYSE:BX) by 3.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,721 shares of the asset manager’s stock after purchasing an additional 4,587 shares during the quarter. Public Sector Pension Investment Board’s holdings in Blackstone were worth $19,252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in BX. Raleigh Capital Management Inc. raised its position in Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in Blackstone by 2.3% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after purchasing an additional 62 shares during the last quarter. Fidelis Capital Partners LLC raised its position in Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after purchasing an additional 62 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Blackstone by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock valued at $2,132,000 after acquiring an additional 64 shares during the last quarter. Finally, Lindbrook Capital LLC raised its position in shares of Blackstone by 1.1% during the 3rd quarter. Lindbrook Capital LLC now owns 5,743 shares of the asset manager’s stock valued at $879,000 after acquiring an additional 65 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Evercore ISI upped their target price on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. UBS Group boosted their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Cowen reissued a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a 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. Based on data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $157.63.

Blackstone Stock Down 1.4 %

Shares of BX stock opened at $189.02 on Friday. Blackstone Inc. has a 52-week low of $106.00 and a 52-week high of $200.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $136.47 billion, a price-to-earnings ratio of 64.96, a PEG ratio of 1.64 and a beta of 1.49. The firm’s 50-day moving average is $168.63 and its 200-day moving average is $144.38.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Sell-side analysts predict that Blackstone Inc. will post 4.4 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a dividend of $0.86 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 1.82%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

Blackstone Company 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.