Rockefeller Capital Management L.P. Decreases Position in Blackstone Inc. (NYSE:BX)

Rockefeller Capital Management L.P. lessened its position in Blackstone Inc. (NYSE:BX - Free Report) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 653,983 shares of the asset manager's stock after selling 25,439 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.09% of Blackstone worth $100,109,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in BX. Tidal Investments LLC increased its holdings in Blackstone by 15.8% during the first quarter. Tidal Investments LLC now owns 17,250 shares of the asset manager's stock worth $2,266,000 after buying an additional 2,358 shares during the last quarter. Citizens Financial Group Inc. RI bought a new position in Blackstone during the first quarter worth about $290,000. PGGM Investments acquired a new stake in shares of Blackstone in the first quarter valued at approximately $750,000. Cetera Investment Advisers raised its stake in Blackstone by 276.2% in the 1st quarter. Cetera Investment Advisers now owns 318,885 shares of the asset manager's stock valued at $41,892,000 after acquiring an additional 234,127 shares during the period. Finally, Cetera Advisors LLC boosted its position in Blackstone by 148.5% during the first quarter. Cetera Advisors LLC now owns 84,068 shares of the asset manager's stock worth $11,044,000 after purchasing an additional 50,244 shares during the period. 70.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BX. BMO Capital Markets increased their price target on shares of Blackstone from $112.00 to $134.00 and gave the company a "market perform" rating in a report on Friday, October 18th. Bank of America lifted their price objective on shares of Blackstone from $171.00 to $192.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. Barclays lifted their price target on shares of Blackstone from $155.00 to $174.00 and gave the company an "equal weight" rating in a research report on Friday, October 18th. TD Cowen raised their price objective on Blackstone from $133.00 to $149.00 and gave the stock a "hold" rating in a research note on Friday, October 18th. Finally, Cowen reissued a "hold" rating on shares of Blackstone in a report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Blackstone currently has an average rating of "Hold" and a consensus price target of $157.63.

Insider Activity

In other news, Director Joseph Baratta sold 116,448 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Finley sold 42,249 shares of the stock in a transaction on Thursday, November 7th. The shares were 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 directly owns 387,137 shares of the company's stock, valued at $68,112,883.78. The trade was a 9.84 % 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 company insiders.

Blackstone Trading Up 1.1 %

NYSE BX traded up $2.07 during mid-day trading on Friday, reaching $191.09. 1,460,387 shares of the stock were exchanged, compared to its average volume of 3,414,683. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a 50 day simple moving average of $168.63 and a 200-day simple moving average of $144.38. Blackstone Inc. has a one year low of $110.77 and a one year high of $200.96. The stock has a market cap of $137.97 billion, a P/E ratio of 65.59, a P/E/G ratio of 1.61 and a beta of 1.49.

Blackstone (NYSE:BX - Get Free Report) last announced its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating the consensus estimate of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, analysts anticipate that Blackstone Inc. will post 4.4 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a $0.86 dividend. This is an increase from Blackstone's previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.80%. The ex-dividend date was Monday, October 28th. Blackstone's payout ratio is 118.21%.

About Blackstone

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.