United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Buys Shares of 182,715 Blackstone Inc. (NYSE:BX)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in Blackstone Inc. (NYSE:BX - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 182,715 shares of the asset manager's stock, valued at approximately $27,979,000.

Several other hedge funds have also recently added to or reduced their stakes in BX. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Blackstone during the 2nd quarter valued at about $26,000. EdgeRock Capital LLC purchased a new position in Blackstone during the 2nd quarter valued at about $27,000. West Financial Advisors LLC purchased a new position in Blackstone during the 3rd quarter valued at about $27,000. Bank & Trust Co purchased a new position in Blackstone during the 2nd quarter valued at about $29,000. Finally, Ridgewood Investments LLC acquired a new stake in Blackstone in the 2nd quarter valued at about $31,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BX shares. Piper Sandler lowered Blackstone from an "overweight" rating to a "neutral" rating and set a $149.00 price target on the stock. in a research report on Wednesday, October 9th. Barclays raised their target price on Blackstone from $155.00 to $174.00 and gave the stock an "equal weight" rating in a research report on Friday, October 18th. UBS Group raised their target price on Blackstone from $140.00 to $160.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. TD Cowen raised their target price on Blackstone from $133.00 to $149.00 and gave the stock a "hold" rating in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Blackstone from $172.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday. 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, the company has a consensus rating of "Hold" and a consensus price target of $157.63.

Insider Buying and Selling at Blackstone

In related 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 sale, the director now owns 799,749 shares of the company's stock, valued at approximately $120,610,146.69. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John G. Finley sold 42,249 shares of the firm's stock in a transaction that occurred 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 directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Blackstone Trading Down 0.2 %

Shares of Blackstone stock traded down $0.35 during trading hours on Thursday, reaching $181.21. The stock had a trading volume of 2,416,738 shares, compared to its average volume of 3,419,615. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 1 year low of $102.59 and a 1 year high of $184.34. The firm has a market capitalization of $130.83 billion, a price-to-earnings ratio of 62.39, a P/E/G ratio of 1.55 and a beta of 1.49. The firm has a 50 day simple moving average of $159.65 and a two-hundred day simple moving average of $139.31.

Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. As a group, equities research analysts anticipate that Blackstone Inc. will post 4.39 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Monday, October 28th. This is a positive change from Blackstone's previous quarterly dividend of $0.82. Blackstone's dividend payout ratio (DPR) 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.