Gulf International Bank UK Ltd Reduces Holdings in Blackstone Inc. (NYSE:BX)

Gulf International Bank UK Ltd decreased its holdings in Blackstone Inc. (NYSE:BX) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,176 shares of the asset manager’s stock after selling 2,407 shares during the period. Gulf International Bank UK Ltd’s holdings in Blackstone were worth $8,602,000 at the end of the most recent reporting period.

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

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The trade was 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 available through this link. In other Blackstone 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 sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the sale, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BX shares. The Goldman Sachs Group increased their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Cowen reissued a “hold” rating on shares of Blackstone in a report on Friday, October 18th. BMO Capital Markets lifted their price target on Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Barclays boosted their price objective on shares of Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $155.38.

Blackstone Trading Down 0.7 %

Shares of BX opened at $167.04 on Tuesday. The stock has a market cap of $120.28 billion, a PE ratio of 57.40, a price-to-earnings-growth ratio of 1.44 and a beta of 1.49. Blackstone Inc. has a 52-week low of $96.15 and a 52-week high of $175.94. The firm’s fifty day moving average is $154.40 and its two-hundred day moving average is $136.69. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.06%. Blackstone’s dividend payout ratio (DPR) is 118.21%.

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.