Haverford Trust Co Has $1.28 Million Stake in Blackstone Inc. (NYSE:BX)

Haverford Trust Co grew its stake in Blackstone Inc. (NYSE:BX) by 25.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,351 shares of the asset manager’s stock after purchasing an additional 1,685 shares during the period. Haverford Trust Co’s holdings in Blackstone were worth $1,279,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Blackstone during the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC bought a new stake in shares of Blackstone in the 2nd quarter valued at $27,000. West Financial Advisors LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at $27,000. Bank & Trust Co bought a new stake in shares of Blackstone in the 2nd quarter valued at $29,000. Finally, Ridgewood Investments LLC acquired a new stake in Blackstone in the 2nd quarter valued at $31,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 0.5 %

Shares of BX opened at $181.56 on Thursday. Blackstone Inc. has a twelve month low of $100.78 and a twelve month high of $183.96. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $131.09 billion, a PE ratio of 62.39, a P/E/G ratio of 1.55 and a beta of 1.49. The business’s 50-day moving average price is $158.78 and its 200-day moving average price is $139.01.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $2.37 billion. On average, equities analysts forecast that Blackstone Inc. will post 4.39 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 1.89%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 118.21%.

Analyst Upgrades and Downgrades

BX has been the subject of several research reports. Redburn Atlantic initiated coverage on shares of Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target for the company. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Bank of America lifted their price objective on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. UBS Group lifted their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, Citigroup lifted their target price on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $157.63.

Insiders Place Their Bets

In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This 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 through this hyperlink. Also, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This 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 insiders.

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.