Peddock Capital Advisors LLC Purchases 149 Shares of Blackstone Inc. (NYSE:BX)

Peddock Capital Advisors LLC raised its stake in shares of Blackstone Inc. (NYSE:BX) by 7.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,035 shares of the asset manager’s stock after purchasing an additional 149 shares during the period. Peddock Capital Advisors LLC’s holdings in Blackstone were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Chilton Capital Management LLC bought a new position in shares of Blackstone in the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone in the 2nd quarter valued at about $26,000. EdgeRock Capital LLC bought a new position in shares of Blackstone in the 2nd quarter valued at about $27,000. Bank & Trust Co bought a new position in shares of Blackstone in the 2nd quarter valued at about $29,000. Finally, Ridgewood Investments LLC bought a new position in shares of Blackstone in the 2nd quarter valued at about $31,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BX. Barclays increased their price objective on shares of Blackstone from $141.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Monday. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research report on Wednesday. Wells Fargo & Company initiated coverage on shares of Blackstone in a research report on Thursday, September 12th. They set an “overweight” rating and a $163.00 target price on the stock. Morgan Stanley raised their target price on shares of Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Finally, Bank of America raised their target price on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and an average price target of $133.06.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction on 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 approximately $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Down 0.9 %

BX traded down $1.37 during trading on Wednesday, hitting $148.07. The stock had a trading volume of 592,667 shares, compared to its average volume of 3,418,125. The company has a market capitalization of $105.82 billion, a PE ratio of 52.81, a PEG ratio of 1.34 and a beta of 1.51. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $161.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a 50 day simple moving average of $142.95 and a two-hundred day simple moving average of $131.69.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the firm posted $0.93 earnings per share. The company’s quarterly revenue was up 166.9% on a year-over-year basis. On average, research analysts predict that Blackstone Inc. will post 4.57 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued 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 2.22%. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

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.