New York State Teachers Retirement System Trims Stock Position in Blackstone Inc. $BX

New York State Teachers Retirement System trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 546,075 shares of the asset manager’s stock after selling 8,122 shares during the period. New York State Teachers Retirement System’s holdings in Blackstone were worth $84,172,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. REAP Financial Group LLC acquired a new position in shares of Blackstone in the third quarter worth $26,000. Family CFO Inc purchased a new stake in Blackstone during the 4th quarter worth about $28,000. Ares Financial Consulting LLC purchased a new position in Blackstone in the 4th quarter valued at about $28,000. Richardson Financial Services Inc. acquired a new stake in shares of Blackstone during the 4th quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Blackstone in the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the transaction, the insider owned 25,832 shares in the company, valued at $90,670.32. The trade was a 99.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of Blackstone stock opened at $125.55 on Friday. The stock has a market capitalization of $93.18 billion, a P/E ratio of 32.11, a PEG ratio of 1.31 and a beta of 1.74. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The business’s fifty day moving average price is $115.95 and its 200 day moving average price is $137.27. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period last year, the business posted $1.11 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, research analysts anticipate that Blackstone Inc. will post 5.91 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Monday, May 4th will be paid a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, May 4th. Blackstone’s payout ratio is currently 152.43%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Citizens Jmp decreased their target price on shares of Blackstone from $195.00 to $190.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 22nd. Piper Sandler raised their price objective on Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday. Barclays dropped their target price on Blackstone from $126.00 to $124.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 8th. The Goldman Sachs Group decreased their price target on Blackstone from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Finally, BMO Capital Markets upped their price objective on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Eleven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $150.95.

Blackstone Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.