NorthCrest Asset Manangement LLC Increases Stake in Blackstone Inc. (NYSE:BX)

NorthCrest Asset Manangement LLC raised its holdings in Blackstone Inc. (NYSE:BX) by 13.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,092 shares of the asset manager’s stock after purchasing an additional 2,729 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Blackstone were worth $3,536,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Chilton Capital Management LLC bought a new stake in shares of Blackstone during the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Blackstone during the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC purchased a new stake in Blackstone in the 2nd quarter worth approximately $27,000. West Financial Advisors LLC purchased a new position in shares of Blackstone during the 3rd quarter valued at $27,000. Finally, Bank & Trust Co purchased a new stake in shares of Blackstone in the second quarter worth $29,000. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated 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 transaction, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 trade represents a 0.00 % decrease in their position. 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 NYSE:BX opened at $167.50 on Friday. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $175.94. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The stock’s 50-day moving average is $150.49 and its 200 day moving average is $134.68. The company has a market cap of $119.70 billion, a PE ratio of 59.19, a P/E/G ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BX. Citigroup upped their target price on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. UBS Group raised their target price on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. TD Cowen increased their price target on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a report on Friday, October 18th. Redburn Atlantic initiated coverage on shares of Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective for the company. Finally, Barclays increased their target price on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $155.38.

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.