Blackstone Inc. (NYSE:BX) Stock Holdings Decreased by TCW Group Inc.

TCW Group Inc. lowered its stake in Blackstone Inc. (NYSE:BX - Free Report) by 44.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,269 shares of the asset manager's stock after selling 41,593 shares during the period. TCW Group Inc.'s holdings in Blackstone were worth $7,851,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of BX. Lantz Financial LLC raised its holdings in Blackstone by 11.7% during the second quarter. Lantz Financial LLC now owns 2,762 shares of the asset manager's stock worth $342,000 after purchasing an additional 290 shares during the last quarter. ORG Partners LLC grew its stake in Blackstone by 10,827.3% in the 2nd quarter. ORG Partners LLC now owns 1,202 shares of the asset manager's stock valued at $147,000 after acquiring an additional 1,191 shares during the last quarter. J.Safra Asset Management Corp purchased a new position in Blackstone during the 2nd quarter valued at about $32,000. Bar Harbor Wealth Management lifted its holdings in shares of Blackstone by 118.0% in the second quarter. Bar Harbor Wealth Management now owns 5,383 shares of the asset manager's stock valued at $666,000 after purchasing an additional 2,914 shares in the last quarter. Finally, Fiduciary Financial Group LLC purchased a new position in shares of Blackstone during the 2nd quarter worth approximately $410,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BX has been the topic of a number of analyst reports. Evercore ISI increased their price objective on Blackstone from $148.00 to $155.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. The Goldman Sachs Group lifted their price target on shares of Blackstone from $135.00 to $150.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Redburn Atlantic initiated coverage on shares of Blackstone in a research report on Tuesday, August 27th. They set a "neutral" rating and a $134.00 target price on the stock. BMO Capital Markets increased 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, Piper Sandler downgraded Blackstone from an "overweight" rating to a "neutral" rating and set a $149.00 price objective for the company. in a research report on Wednesday, October 9th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $164.69.

Blackstone Stock Down 1.1 %

Shares of BX stock traded down $2.12 during mid-day trading on Thursday, reaching $190.29. 2,827,897 shares of the company were exchanged, compared to its average volume of 3,395,748. Blackstone Inc. has a fifty-two week low of $112.44 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $137.39 billion, a P/E ratio of 65.39, a P/E/G ratio of 1.59 and a beta of 1.51. The business's 50 day simple moving average is $174.63 and its 200 day simple moving average is $148.41.

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

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued 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 yield of 1.81%. This is a boost from Blackstone's previous quarterly dividend of $0.82. Blackstone's dividend payout ratio (DPR) is currently 118.21%.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 of the company's stock, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 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 disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

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.