Blackstone Inc. (NYSE:BX) Stake Boosted by Community Bank & Trust Waco Texas

Community Bank & Trust Waco Texas boosted its position in shares of Blackstone Inc. (NYSE:BX) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,072 shares of the asset manager’s stock after purchasing an additional 104 shares during the period. Blackstone makes up 2.7% of Community Bank & Trust Waco Texas’ holdings, making the stock its 6th biggest holding. Community Bank & Trust Waco Texas’ holdings in Blackstone were worth $11,802,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Wulff Hansen & CO. raised its position in Blackstone by 12,192.7% in the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after purchasing an additional 7,281,128 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares during the period. Capital World Investors grew its stake in Blackstone by 7.5% in the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after acquiring an additional 2,546,886 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Blackstone by 19,048.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock valued at $247,423,000 after purchasing an additional 1,873,573 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Blackstone by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after purchasing an additional 1,290,324 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday. JPMorgan Chase & Co. increased their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. TD Cowen increased their price objective on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Citigroup increased their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Bank of America raised their price target on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $157.63.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction 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 owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This trade 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 is available through this link. Also, Director Joseph Baratta sold 116,448 shares of Blackstone 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 $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Down 1.3 %

Shares of Blackstone stock opened at $180.78 on Wednesday. The firm has a market cap of $130.52 billion, a price-to-earnings ratio of 62.12, a P/E/G ratio of 1.57 and a beta of 1.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Blackstone Inc. has a 52-week low of $96.93 and a 52-week high of $183.96. The stock has a 50-day simple moving average of $157.93 and a 200-day simple moving average of $138.60.

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

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a dividend of $0.86 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.90%. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio is currently 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.