Daymark Wealth Partners LLC Purchases 324 Shares of Blackstone Inc. (NYSE:BX)

Daymark Wealth Partners LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,921 shares of the asset manager’s stock after buying an additional 324 shares during the period. Daymark Wealth Partners LLC’s holdings in Blackstone were worth $2,897,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BX. Vanguard Group Inc. raised its stake in Blackstone by 2.0% in the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after purchasing an additional 1,290,324 shares in the last quarter. Capital World Investors increased its stake in Blackstone by 7.5% in the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after acquiring an additional 2,546,886 shares during the last quarter. Wulff Hansen & CO. lifted its stake in Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after purchasing an additional 7,281,128 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Blackstone by 2.3% during the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after buying an additional 141,616 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in Blackstone by 0.5% during the first quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock valued at $613,581,000 after acquiring an additional 21,450 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Down 0.7 %

Shares of NYSE:BX opened at $148.41 on Thursday. 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. The firm has a market capitalization of $106.06 billion, a P/E ratio of 52.44, a P/E/G ratio of 1.34 and a beta of 1.51. The stock has a 50 day moving average price of $142.95 and a 200-day moving average price of $131.69.

Blackstone (NYSE:BX) last released its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the company earned $0.93 earnings per share. The firm’s quarterly revenue was up 166.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Blackstone Inc. will post 4.57 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business 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 of this dividend was Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.21%. Blackstone’s payout ratio is currently 115.90%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. TD Cowen increased their target price on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. Redburn Atlantic started coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective on the stock. The Goldman Sachs Group raised their price target on Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Morgan Stanley increased their price objective on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Bank of America upped their price target on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 19th. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average target price of $133.41.

Insider Buying and Selling at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated 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 transaction, the director now owns 799,749 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of the firm’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 $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 35,000 shares of the 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 sale, the insider now owns 429,386 shares in the company, 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 owned by company insiders.

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.