Geode Capital Management LLC Has $2.27 Billion Holdings in Blackstone Inc. (NYSE:BX)

Geode Capital Management LLC boosted its position in shares of Blackstone Inc. (NYSE:BXFree Report) by 2.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 14,896,413 shares of the asset manager’s stock after buying an additional 336,308 shares during the quarter. Geode Capital Management LLC’s holdings in Blackstone were worth $2,272,227,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BX. West Financial Advisors LLC acquired a new position in Blackstone in the 3rd quarter valued at approximately $27,000. EdgeRock Capital LLC purchased a new stake in shares of Blackstone during the second quarter worth $27,000. Ridgewood Investments LLC acquired a new stake in Blackstone during the second quarter valued at $31,000. Raleigh Capital Management Inc. increased its position in Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Blackstone during the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BX. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a research note on Wednesday, October 9th. Citigroup raised their target price on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group lifted their price objective on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and raised their target price for the company from $149.00 to $230.00 in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $164.25.

Check Out Our Latest Stock Report on Blackstone

Blackstone Trading Down 0.9 %

Shares of BX stock opened at $185.39 on Tuesday. The firm has a 50-day moving average price of $173.07 and a 200 day moving average price of $147.64. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $133.85 billion, a P/E ratio of 63.71, a P/E/G ratio of 1.59 and a beta of 1.51. Blackstone Inc. has a 12-month low of $112.09 and a 12-month high of $200.96.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Research analysts forecast that Blackstone Inc. will post 4.4 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.86%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is 118.21%.

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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