Blackstone Inc. (NYSE:BX) Shares Purchased by Gratus Wealth Advisors LLC

Gratus Wealth Advisors LLC raised its position in Blackstone Inc. (NYSE:BX) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,736 shares of the asset manager’s stock after purchasing an additional 111 shares during the quarter. Gratus Wealth Advisors LLC’s holdings in Blackstone were worth $1,302,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BX. Chilton Capital Management LLC purchased a new position in Blackstone in the 1st quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Blackstone in the second quarter valued at $26,000. EdgeRock Capital LLC purchased a new stake in Blackstone during the 2nd quarter worth about $27,000. Bank & Trust Co purchased a new position in shares of Blackstone in the 2nd quarter valued at about $29,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of Blackstone during the second quarter worth approximately $31,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Trading Up 0.2 %

NYSE BX opened at $149.44 on Wednesday. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $161.25. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $142.79 and a 200 day moving average price of $131.54. The stock has a market capitalization of $106.80 billion, a P/E ratio of 52.81, a P/E/G ratio of 1.34 and a beta of 1.51.

Blackstone (NYSE:BX) last released its quarterly earnings results 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 period last year, the firm posted $0.93 earnings per share. The business’s revenue was up 166.9% on a year-over-year basis. Equities research analysts expect that Blackstone Inc. will post 4.57 EPS for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were issued a $0.82 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.19%. Blackstone’s dividend payout ratio (DPR) is 115.90%.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the transaction, the director now 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 document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the sale, the insider now directly 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 sale 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 company’s stock in a transaction that occurred on 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 sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research report on Tuesday, July 23rd. Piper Sandler upped their price objective on Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Redburn Atlantic initiated coverage on Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. TD Cowen increased their price target on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, The Goldman Sachs Group upped their target price on shares of Blackstone from $130.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Blackstone has an average rating of “Hold” and an average price target of $133.06.

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.