Valeo Financial Advisors LLC Buys 1,693 Shares of Blackstone Inc. (NYSE:BX)

Valeo Financial Advisors LLC raised its stake in Blackstone Inc. (NYSE:BX) by 13.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,021 shares of the asset manager’s stock after acquiring an additional 1,693 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Blackstone were worth $2,147,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BX. Clarity Capital Partners LLC acquired a new stake in Blackstone during the 4th quarter worth approximately $234,000. Able Wealth Management LLC acquired a new stake in Blackstone during the 4th quarter worth approximately $108,000. Scarborough Advisors LLC acquired a new stake in Blackstone during the 4th quarter worth approximately $109,000. Virtu Financial LLC acquired a new stake in Blackstone during the 4th quarter worth approximately $1,354,000. Finally, EP Wealth Advisors LLC boosted its position in Blackstone by 4.1% during the 4th quarter. EP Wealth Advisors LLC now owns 21,398 shares of the asset manager’s stock worth $2,801,000 after buying an additional 843 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on BX shares. Barclays raised their price target on shares of Blackstone from $141.00 to $155.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Redburn Atlantic started coverage on shares of Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target for the company. The Goldman Sachs Group raised their price target on shares of Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Morgan Stanley raised their price target on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company lifted their price objective on shares of Blackstone from $163.00 to $169.00 and gave the company an “overweight” rating in a research note on Wednesday. Twelve 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.com, Blackstone currently has a consensus rating of “Hold” and a consensus price target of $135.00.

Insiders Place Their Bets

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 transaction of $4,610,900.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 value of $4,610,900.00. Following the transaction, the insider now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the transaction, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock opened at $153.04 on Friday. The firm has a market capitalization of $109.37 billion, a PE ratio of 54.08, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The firm has a fifty day simple moving average of $143.72 and a two-hundred day simple moving average of $132.13. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $161.25.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The business’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 EPS. Analysts forecast that Blackstone Inc. will post 4.46 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s dividend payout ratio is 115.90%.

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.