Apollon Wealth Management LLC Buys 240 Shares of Blackstone Inc. (NYSE:BX)

Apollon Wealth Management LLC lifted its position in Blackstone Inc. (NYSE:BX) by 0.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,747 shares of the asset manager’s stock after purchasing an additional 240 shares during the period. Apollon Wealth Management LLC’s holdings in Blackstone were worth $7,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BX. Thurston Springer Miller Herd & Titak Inc. bought a new position in Blackstone during the second quarter valued at $26,000. EdgeRock Capital LLC purchased a new position in Blackstone during the 2nd quarter valued at about $27,000. West Financial Advisors LLC purchased a new position in shares of Blackstone in the 3rd quarter worth approximately $27,000. Bank & Trust Co acquired a new stake in Blackstone in the 2nd quarter worth approximately $29,000. Finally, Ridgewood Investments LLC acquired a new stake in Blackstone during the 2nd quarter valued at approximately $31,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction on 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 transaction, the director now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of the firm’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 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 filing with the SEC, which is available through the SEC website. Also, insider John G. Finley sold 42,249 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Trading Up 3.2 %

NYSE:BX opened at $183.16 on Tuesday. The stock has a fifty day simple moving average of $157.11 and a 200-day simple moving average of $138.18. The company has a market capitalization of $132.24 billion, a PE ratio of 62.94, a price-to-earnings-growth ratio of 1.52 and a beta of 1.49. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 52-week low of $96.93 and a 52-week high of $183.96.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. On average, equities research analysts expect that Blackstone Inc. will post 4.39 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.88%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. Blackstone’s payout ratio is 118.21%.

Analysts Set New Price Targets

Several research firms recently issued reports on BX. TD Cowen boosted their target price on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research note on Friday, October 18th. Citigroup upped their target price on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company upped their target price on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their price target on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $157.63.

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.