Madison Park Capital Advisors LLC Purchases 245 Shares of Blackstone Inc. (NYSE:BX)

Madison Park Capital Advisors LLC lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 16,817 shares of the asset manager’s stock after acquiring an additional 245 shares during the period. Blackstone accounts for about 1.9% of Madison Park Capital Advisors LLC’s portfolio, making the stock its 17th biggest position. Madison Park Capital Advisors LLC’s holdings in Blackstone were worth $2,575,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Resonant Capital Advisors LLC bought a new position in Blackstone during the third quarter worth about $211,000. Revolve Wealth Partners LLC boosted its stake in Blackstone by 26.5% during the 3rd quarter. Revolve Wealth Partners LLC now owns 6,626 shares of the asset manager’s stock worth $1,015,000 after acquiring an additional 1,390 shares during the last quarter. Veracity Capital LLC grew its holdings in Blackstone by 4.1% during the third quarter. Veracity Capital LLC now owns 3,301 shares of the asset manager’s stock valued at $505,000 after purchasing an additional 130 shares during the period. AA Financial Advisors LLC acquired a new stake in Blackstone in the third quarter worth $318,000. Finally, Embree Financial Group lifted its holdings in Blackstone by 1.7% during the third quarter. Embree Financial Group now owns 61,295 shares of the asset manager’s stock worth $9,386,000 after acquiring an additional 1,043 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

BX stock opened at $172.36 on Friday. 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 $175.94. The company has a market capitalization of $123.18 billion, a P/E ratio of 60.90, a PEG ratio of 1.24 and a beta of 1.51. The company has a fifty day moving average price of $147.01 and a 200-day moving average price of $133.27.

Blackstone (NYSE:BX) last released 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). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the firm posted $0.93 EPS. The company’s quarterly revenue was up 166.9% on a year-over-year basis. As a group, equities analysts expect that Blackstone Inc. will post 4.46 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 115.90%.

Analysts Set New Price Targets

Several research analysts recently commented on BX shares. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a report on Wednesday, October 9th. UBS Group boosted their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday. Barclays raised their price objective on shares of Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday. Finally, The Goldman Sachs Group increased their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday. Thirteen equities 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 currently has a consensus rating of “Hold” and a consensus price target of $152.41.

Insider Transactions at Blackstone

In other news, 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 transaction of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares in the company, valued at $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 is available through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on 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 $120,610,146.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John G. Finley sold 35,000 shares of the firm’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 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 disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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.