Coldstream Capital Management Inc. Purchases 4,811 Shares of Blackstone Inc. (NYSE:BX)

Coldstream Capital Management Inc. grew its position in shares of Blackstone Inc. (NYSE:BX) by 76.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,127 shares of the asset manager’s stock after purchasing an additional 4,811 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Blackstone were worth $1,816,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. State Street Corp grew its position in Blackstone by 1.2% during the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after acquiring an additional 348,751 shares during the last quarter. Geode Capital Management LLC grew its position in Blackstone by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after acquiring an additional 336,308 shares during the last quarter. Wulff Hansen & CO. grew its position in Blackstone by 12,192.7% during the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after acquiring an additional 7,281,128 shares during the last quarter. Legal & General Group Plc grew its position 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 worth $775,758,000 after acquiring an additional 141,616 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after acquiring an additional 4,173,971 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. The Goldman Sachs Group increased their price objective on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and increased their price objective for the stock from $149.00 to $230.00 in a report on Monday. Redburn Atlantic assumed coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average target price of $164.25.

Blackstone Stock Up 1.5 %

Shares of NYSE:BX opened at $192.46 on Thursday. The stock has a fifty day simple moving average of $173.83 and a two-hundred day simple moving average of $148.10. The stock has a market capitalization of $138.95 billion, a price-to-earnings ratio of 66.14, a PEG ratio of 1.59 and a beta of 1.51. Blackstone Inc. has a 12-month low of $112.09 and a 12-month high of $200.96. 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 (NYSE:BX) last posted its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, research analysts anticipate that Blackstone Inc. will post 4.4 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a $0.86 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.79%. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

Insiders Place Their Bets

In related news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction 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 owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Baratta sold 116,448 shares of Blackstone 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 completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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.