Blackstone Inc. (NYSE:BX) Stock Holdings Lowered by Toronto Dominion Bank

Toronto Dominion Bank lowered its position in Blackstone Inc. (NYSE:BX) by 15.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 352,259 shares of the asset manager’s stock after selling 63,251 shares during the quarter. Toronto Dominion Bank’s holdings in Blackstone were worth $43,610,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Chilton Capital Management LLC acquired a new position in Blackstone during the 1st quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Blackstone in the second quarter worth about $26,000. EdgeRock Capital LLC bought a new position in Blackstone in the 2nd quarter valued at about $27,000. Bank & Trust Co bought a new stake in shares of Blackstone during the 2nd quarter worth about $29,000. Finally, Ridgewood Investments LLC acquired a new position in shares of Blackstone during the second quarter valued at approximately $31,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BX. Morgan Stanley increased their price target on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company initiated coverage on Blackstone in a report on Thursday, September 12th. They set an “overweight” rating and a $163.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Barclays raised their target price on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Finally, TD Cowen increased their price objective on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $130.78.

Insider Transactions at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the sale, the director now owns 921,184 shares in the company, valued at $113,305,632. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider John G. Finley sold 35,000 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the sale, the director now owns 921,184 shares in the company, valued at $113,305,632. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Down 3.0 %

Shares of NYSE:BX opened at $152.77 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $161.25. The firm has a fifty day moving average of $140.49 and a two-hundred day moving average of $129.86. The firm has a market capitalization of $110.01 billion, a P/E ratio of 53.98, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 EPS. On average, equities analysts expect that Blackstone Inc. will post 4.57 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were given a dividend of $0.82 per share. The ex-dividend date was Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.15%. Blackstone’s dividend payout ratio is presently 115.90%.

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.