Nisa Investment Advisors LLC Reduces Holdings in Blackstone Inc. (NYSE:BX)

Nisa Investment Advisors LLC decreased its position in shares of Blackstone Inc. (NYSE:BX) by 8.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 118,361 shares of the asset manager’s stock after selling 11,505 shares during the period. Nisa Investment Advisors LLC’s holdings in Blackstone were worth $18,125,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BX. Vanguard Group Inc. boosted its holdings in Blackstone by 2.0% in the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after purchasing an additional 1,290,324 shares during the last quarter. Capital World Investors boosted its stake in shares of Blackstone by 7.5% during the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after buying an additional 2,546,886 shares during the last quarter. Wulff Hansen & CO. increased its stake in shares of Blackstone by 12,192.7% in the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after buying an additional 7,281,128 shares during the last quarter. Legal & General Group Plc boosted its stake in Blackstone by 2.3% during the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after acquiring an additional 141,616 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Blackstone by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock worth $613,581,000 after purchasing an additional 21,450 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company lifted their price target on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. 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. Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Evercore ISI increased their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Citigroup boosted their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Blackstone has a consensus rating of “Hold” and an average target price of $155.38.

Insider Buying and Selling

In other news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Blackstone Price Performance

Shares of BX opened at $169.81 on Wednesday. The stock’s fifty day moving average is $151.93 and its 200-day moving average is $135.37. The firm has a market capitalization of $121.35 billion, a price-to-earnings ratio of 60.00, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. Blackstone Inc. has a one year low of $90.43 and a one year high of $175.94.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be issued a $0.86 dividend. The ex-dividend date of this dividend is Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 2.03%. Blackstone’s dividend payout ratio (DPR) is 121.55%.

Blackstone 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.