First Financial Bankshares Inc Has $112.61 Million Stock Position in Blackstone Inc. (NYSE:BX)

First Financial Bankshares Inc trimmed its holdings in Blackstone Inc. (NYSE:BX) by 9.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 735,413 shares of the asset manager’s stock after selling 72,313 shares during the quarter. Blackstone comprises 2.4% of First Financial Bankshares Inc’s portfolio, making the stock its 8th largest holding. First Financial Bankshares Inc owned about 0.10% of Blackstone worth $112,614,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. increased its stake in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of 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 buying an additional 62 shares in the last quarter. Trust Co. of Vermont boosted its stake in Blackstone by 3.1% during the third quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock valued at $343,000 after buying an additional 67 shares in the last quarter. CVA Family Office LLC raised its position in Blackstone by 6.4% in the third quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock worth $187,000 after acquiring an additional 73 shares in the last quarter. Finally, Moseley Investment Management Inc. boosted its position in shares of Blackstone by 0.7% during the 2nd quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock valued at $1,391,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. The Goldman Sachs Group upped their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley upped their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, TD Cowen boosted their price target on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $155.38.

Blackstone Stock Down 1.3 %

Shares of Blackstone stock traded down $2.16 during trading on Friday, hitting $167.50. 2,831,110 shares of the stock traded hands, compared to its average volume of 3,445,846. The company has a fifty day moving average price of $150.49 and a two-hundred day moving average price of $134.68. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $175.94. The stock has a market cap of $119.70 billion, a P/E ratio of 59.19, a PEG ratio of 1.24 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be paid a dividend of $0.86 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 2.05%. Blackstone’s dividend payout ratio is 121.55%.

Insider Activity at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the company’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 completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction dated Wednesday, August 7th. The stock was 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 in the company, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

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.