Caisse DE Depot ET Placement DU Quebec Raises Stock Position in Blackstone Inc. (NYSE:BX)

Caisse DE Depot ET Placement DU Quebec grew its position in shares of Blackstone Inc. (NYSE:BX) by 28.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,700 shares of the asset manager’s stock after purchasing an additional 60,700 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Blackstone were worth $41,452,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BX. Fred Alger Management LLC increased its holdings in shares of Blackstone by 261.9% in the 3rd quarter. Fred Alger Management LLC now owns 209,334 shares of the asset manager’s stock worth $32,055,000 after buying an additional 151,483 shares during the last quarter. Captrust Financial Advisors lifted its stake in Blackstone by 4.9% during the third quarter. Captrust Financial Advisors now owns 121,446 shares of the asset manager’s stock worth $18,597,000 after purchasing an additional 5,715 shares during the last quarter. Icon Wealth Advisors LLC boosted its holdings in shares of Blackstone by 52.0% in the 3rd quarter. Icon Wealth Advisors LLC now owns 1,260 shares of the asset manager’s stock worth $193,000 after purchasing an additional 431 shares in the last quarter. Waterfront Capital Partners LLC purchased a new position in shares of Blackstone during the 3rd quarter valued at about $3,066,000. Finally, Vinva Investment Management Ltd boosted its stake in Blackstone by 11.2% in the third quarter. Vinva Investment Management Ltd now owns 29,783 shares of the asset manager’s stock worth $4,615,000 after buying an additional 2,992 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred 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 sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, the director now directly 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 disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BX. Barclays boosted their price objective on shares of Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target for the company. in a research report on Wednesday, October 9th. BMO Capital Markets boosted their target price on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Redburn Atlantic initiated coverage on Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target on the stock. Finally, UBS Group raised their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $157.63.

Blackstone Trading Up 1.1 %

NYSE BX opened at $191.09 on Monday. The stock’s 50 day moving average is $169.29 and its 200 day moving average is $145.09. 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 firm has a market capitalization of $137.97 billion, a PE ratio of 65.67, a P/E/G ratio of 1.63 and a beta of 1.49. Blackstone Inc. has a twelve month low of $110.77 and a twelve month high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. The company 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 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 is a boost from Blackstone’s previous quarterly dividend of $0.82. 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 1.80%. Blackstone’s payout ratio is presently 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.