FUKOKU MUTUAL LIFE INSURANCE Co Cuts Holdings in Blackstone Inc. (NYSE:BX)

FUKOKU MUTUAL LIFE INSURANCE Co cut its position in Blackstone Inc. (NYSE:BX) by 15.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,278 shares of the asset manager’s stock after selling 597 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Blackstone were worth $502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Raleigh Capital Management Inc. lifted its position in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after buying an additional 62 shares during the last quarter. Fidelis Capital Partners LLC grew its holdings in shares of Blackstone by 2.7% during the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after purchasing an additional 62 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in Blackstone by 0.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock valued at $2,132,000 after purchasing an additional 64 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its position in Blackstone by 1.1% during the 3rd quarter. Lindbrook Capital LLC now owns 5,743 shares of the asset manager’s stock worth $879,000 after acquiring an additional 65 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John G. Finley sold 42,249 shares of the business’s 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 transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Trading Down 0.2 %

Shares of BX stock opened at $181.21 on Friday. Blackstone Inc. has a 12-month low of $102.59 and a 12-month high of $184.34. The stock has a market capitalization of $130.83 billion, a P/E ratio of 62.27, a P/E/G ratio of 1.55 and a beta of 1.49. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $159.65 and its 200 day moving average is $139.31.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Research analysts expect that Blackstone Inc. will post 4.39 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were issued a $0.86 dividend. The ex-dividend date was Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.90%. Blackstone’s dividend payout ratio is currently 118.21%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Redburn Atlantic began coverage on Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Piper Sandler cut Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a research note on Wednesday, October 9th. BMO Capital Markets lifted their price objective on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, UBS Group lifted their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $157.63.

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.