Toronto Dominion Bank Trims Stock Position in Blackstone Inc. (NYSE:BX)

Toronto Dominion Bank cut its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 8.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 221,872 shares of the asset manager's stock after selling 21,134 shares during the quarter. Toronto Dominion Bank's holdings in Blackstone were worth $38,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Avidian Wealth Enterprises LLC raised its position in Blackstone by 0.4% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager's stock valued at $2,790,000 after purchasing an additional 59 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its position in Blackstone by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager's stock valued at $1,970,000 after purchasing an additional 62 shares during the period. McAdam LLC raised its position in Blackstone by 3.9% during the fourth quarter. McAdam LLC now owns 1,687 shares of the asset manager's stock valued at $291,000 after purchasing an additional 63 shares during the period. CENTRAL TRUST Co raised its position in Blackstone by 0.6% during the fourth quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager's stock valued at $1,903,000 after purchasing an additional 63 shares during the period. Finally, Catalina Capital Group LLC raised its holdings in shares of Blackstone by 3.2% in the fourth quarter. Catalina Capital Group LLC now owns 2,117 shares of the asset manager's stock worth $365,000 after buying an additional 65 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BX has been the topic of several recent analyst reports. Wells Fargo & Company increased their price target on Blackstone from $139.00 to $153.00 and gave the stock an "equal weight" rating in a report on Friday, May 23rd. UBS Group reduced their price target on Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Bank of America reduced their price target on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a report on Friday, April 4th. TD Cowen reduced their price objective on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, JMP Securities restated a "market outperform" rating and set a $165.00 price objective on shares of Blackstone in a report on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $155.65.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 25,000 shares of Blackstone stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $138.47, for a total transaction of $3,461,750.00. Following the completion of the sale, the insider now owns 475,336 shares of the company's stock, valued at approximately $65,819,775.92. The trade was a 5.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Private Credit Stra Blackstone acquired 1,660,000 shares of Blackstone stock in a transaction on Thursday, May 1st. The shares were bought at an average price of $15.00 per share, with a total value of $24,900,000.00. Following the purchase, the insider now directly owns 1,666,667 shares in the company, valued at approximately $25,000,005. The trade was a 24,898.76% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.00% of the company's stock.

Blackstone Stock Down 0.3%

NYSE BX traded down $0.43 during midday trading on Friday, hitting $138.45. 6,190,012 shares of the company traded hands, compared to its average volume of 3,794,132. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The company has a market cap of $101.02 billion, a PE ratio of 38.14, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The company's 50-day simple moving average is $135.83 and its 200-day simple moving average is $159.15.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same period in the previous year, the business earned $0.98 EPS. As a group, equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were given a $0.93 dividend. The ex-dividend date was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.69%. Blackstone's payout ratio is 112.05%.

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.