American Assets Capital Advisers LLC Cuts Stock Position in Blackstone Inc. (NYSE:BX)

American Assets Capital Advisers LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX - Free Report) by 8.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,823 shares of the asset manager's stock after selling 5,450 shares during the period. Blackstone accounts for approximately 2.8% of American Assets Capital Advisers LLC's portfolio, making the stock its 12th largest holding. American Assets Capital Advisers LLC's holdings in Blackstone were worth $9,008,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Wulff Hansen & CO. increased its holdings in Blackstone by 12,192.7% during the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager's stock worth $908,797,000 after acquiring an additional 7,281,128 shares during the period. International Assets Investment Management LLC raised its position in shares of Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager's stock valued at $6,433,220,000 after buying an additional 4,173,971 shares in the last quarter. Capital World Investors raised its position in shares of Blackstone by 7.5% during the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager's stock valued at $4,766,875,000 after buying an additional 2,546,886 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Blackstone by 19,048.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager's stock valued at $247,423,000 after buying an additional 1,873,573 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Blackstone by 2.0% during the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager's stock valued at $8,442,227,000 after purchasing an additional 1,290,324 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Stock Down 1.3 %

Shares of BX traded down $2.38 during mid-day trading on Tuesday, reaching $180.78. The company had a trading volume of 2,939,621 shares, compared to its average volume of 3,427,348. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. The firm has a 50-day moving average price of $157.93 and a 200 day moving average price of $138.60. Blackstone Inc. has a 52 week low of $96.93 and a 52 week high of $183.96. The company has a market capitalization of $130.52 billion, a price-to-earnings ratio of 62.94, a price-to-earnings-growth ratio of 1.52 and a beta of 1.49.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, sell-side analysts forecast that Blackstone Inc. will post 4.39 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were given a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This is a boost from Blackstone's previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.90%. Blackstone's dividend payout ratio is 118.21%.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of research reports. The Goldman Sachs Group raised their price objective on Blackstone from $135.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Morgan Stanley lifted their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Bank of America lifted their price objective on Blackstone from $171.00 to $192.00 and gave the stock a "buy" rating 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 note on Friday, October 18th. Finally, Cowen restated a "hold" rating on shares of Blackstone 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $157.63.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of the company's stock in a transaction on 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 completion of the sale, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John G. Finley sold 42,249 shares of the company's stock in a transaction on 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 sale, the insider now owns 387,137 shares of the company's stock, valued at $68,112,883.78. This trade represents 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.

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.