Blackstone Inc. (NYSE:BX) Stock Position Raised by Bruce G. Allen Investments LLC

Bruce G. Allen Investments LLC raised its position in shares of Blackstone Inc. (NYSE:BX) by 56.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 733 shares of the asset manager’s stock after purchasing an additional 264 shares during the period. Bruce G. Allen Investments LLC’s holdings in Blackstone were worth $112,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Chilton Capital Management LLC bought a new stake in shares of Blackstone in the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone during the second quarter worth $26,000. EdgeRock Capital LLC acquired a new position in Blackstone during the second quarter worth $27,000. West Financial Advisors LLC acquired a new position in Blackstone during the third quarter worth $27,000. Finally, Bank & Trust Co acquired a new position in Blackstone during the second quarter worth $29,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the business’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 completion of the sale, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other 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 transaction of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the company’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. 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 currently owned by corporate insiders.

Blackstone Trading Down 0.7 %

NYSE BX opened at $148.41 on Thursday. The stock has a market capitalization of $106.06 billion, a price-to-earnings ratio of 52.44, a PEG ratio of 1.34 and a beta of 1.51. The stock’s 50 day moving average price is $142.95 and its two-hundred day moving average price is $131.69. 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 52 week low of $88.59 and a 52 week high of $161.25.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). The company 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 firm’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period last year, the firm earned $0.93 EPS. As a group, analysts anticipate that Blackstone Inc. will post 4.57 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were paid a $0.82 dividend. The ex-dividend date was Monday, July 29th. This represents a $3.28 annualized dividend and a yield of 2.21%. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

Analysts Set New Price Targets

Several research firms have issued reports on BX. The Goldman Sachs Group increased their price objective on Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Redburn Atlantic initiated coverage on Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price for the company. Wells Fargo & Company raised their target price on Blackstone from $163.00 to $169.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley raised their target price on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $133.41.

Blackstone Company 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.