Oppenheimer Asset Management Inc. Purchases 1,677 Shares of Blackstone Inc. (NYSE:BX)

Oppenheimer Asset Management Inc. grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 62,122 shares of the asset manager’s stock after buying an additional 1,677 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Blackstone were worth $9,513,000 at the end of the most recent reporting period.

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

Blackstone Price Performance

NYSE BX opened at $181.56 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The stock’s fifty day moving average price is $158.78 and its 200 day moving average price is $139.01. The company has a market cap of $131.09 billion, a price-to-earnings ratio of 62.39, a PEG ratio of 1.55 and a beta of 1.49. Blackstone Inc. has a 1 year low of $100.78 and a 1 year high of $183.96.

Blackstone (NYSE:BX) last posted 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. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. As a group, equities research analysts forecast that Blackstone Inc. will post 4.39 earnings per share for the current year.

Blackstone Increases Dividend

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

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. 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 this hyperlink. In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated 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 sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. 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 available through this link. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target for the company. in a report on Wednesday, October 9th. Cowen restated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. TD Cowen boosted their price target on Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. Evercore ISI lifted their target price on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus target price of $157.63.

About Blackstone

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.