TIAA Trust National Association Lowers Holdings in Blackstone Inc. (NYSE:BX)

TIAA Trust National Association decreased its holdings in Blackstone Inc. (NYSE:BXFree Report) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,098 shares of the asset manager’s stock after selling 1,295 shares during the quarter. TIAA Trust National Association’s holdings in Blackstone were worth $3,417,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BX. Vanguard Group Inc. lifted its stake in shares of Blackstone by 30.2% in the 3rd quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock valued at $6,652,526,000 after purchasing an additional 14,396,655 shares in the last quarter. Morgan Stanley lifted its stake in shares of Blackstone by 3.7% in the 4th quarter. Morgan Stanley now owns 22,495,670 shares of the asset manager’s stock valued at $1,668,954,000 after purchasing an additional 798,734 shares in the last quarter. State Street Corp lifted its stake in shares of Blackstone by 2.1% in the 1st quarter. State Street Corp now owns 16,157,334 shares of the asset manager’s stock valued at $1,419,249,000 after purchasing an additional 332,962 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Blackstone by 13.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,825,769 shares of the asset manager’s stock valued at $1,588,433,000 after purchasing an additional 1,744,652 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Blackstone by 7.1% in the 1st quarter. Geode Capital Management LLC now owns 7,925,167 shares of the asset manager’s stock valued at $695,952,000 after purchasing an additional 522,561 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity

In related news, insider John G. Finley sold 49,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the transaction, the insider now owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 49,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total value of $6,268,570.00. Following the completion of the sale, the insider now directly owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,587,168 shares of company stock valued at $37,816,476. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX opened at $126.32 on Wednesday. The firm has a market capitalization of $90.27 billion, a PE ratio of 69.03, a P/E/G ratio of 1.05 and a beta of 1.51. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.80 and a quick ratio of 0.80. Blackstone Inc. has a 1-year low of $79.29 and a 1-year high of $133.56. The business’s fifty day moving average price is $126.33 and its two-hundred day moving average price is $116.41.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The asset manager reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.16. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $2.48 billion. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. During the same period last year, the company earned $1.07 earnings per share. On average, research analysts expect that Blackstone Inc. will post 4.92 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 12th. Stockholders of record on Monday, February 5th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.98%. This is a positive change from Blackstone’s previous quarterly dividend of $0.80. The ex-dividend date was Friday, February 2nd. Blackstone’s dividend payout ratio (DPR) is 205.46%.

Analysts Set New Price Targets

BX has been the topic of several recent research reports. The Goldman Sachs Group lowered Blackstone from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $115.00 to $128.00 in a research report on Wednesday, January 3rd. Bank of America boosted their price target on Blackstone from $146.00 to $147.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Citigroup lowered Blackstone from a “buy” rating to a “neutral” rating and upped their target price for the company from $116.00 to $124.00 in a research report on Friday, January 19th. JPMorgan Chase & Co. upped their target price on Blackstone from $91.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Finally, BMO Capital Markets upped their target price on Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $119.25.

View Our Latest Analysis on Blackstone

Blackstone Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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