Moss Adams Wealth Advisors LLC Purchases 118 Shares of Blackstone Inc. (NYSE:BX)

Moss Adams Wealth Advisors LLC raised its position in shares of Blackstone Inc. (NYSE:BX) by 5.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,279 shares of the asset manager’s stock after purchasing an additional 118 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Blackstone were worth $349,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BX. Chilton Capital Management LLC bought a new position in Blackstone in the first quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Blackstone in the 2nd quarter worth $26,000. EdgeRock Capital LLC bought a new stake in Blackstone during the second quarter valued at about $27,000. West Financial Advisors LLC bought a new position in shares of Blackstone in the third quarter worth about $27,000. Finally, Bank & Trust Co bought a new position in shares of Blackstone during the 2nd quarter valued at approximately $29,000. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a report on Wednesday, October 9th. Barclays lifted their target price on shares of Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday. TD Cowen raised their price target on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday. Deutsche Bank Aktiengesellschaft upped their price objective on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Citigroup boosted their price target on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $152.41.

Insider Buying and Selling

In other news, Director Joseph Baratta sold 116,448 shares of the business’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 sale, the director now owns 799,749 shares in the company, valued at approximately $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 can be accessed through this hyperlink. In other Blackstone news, insider John G. Finley sold 35,000 shares of the 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 directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was 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 insiders.

Blackstone Trading Up 1.5 %

NYSE BX opened at $172.35 on Friday. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $175.94. The company’s 50-day moving average price is $147.01 and its 200-day moving average price is $133.22. The stock has a market cap of $123.17 billion, a PE ratio of 60.90, a PEG ratio of 1.24 and a beta of 1.51. 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 (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 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 was up 166.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.93 EPS. Equities research analysts forecast that Blackstone Inc. will post 4.46 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be paid a dividend of $0.86 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 2.00%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is currently 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.