Blackstone Inc. (NYSE:BX) Position Boosted by Rise Advisors LLC

Rise Advisors LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 4.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,038 shares of the asset manager’s stock after purchasing an additional 139 shares during the period. Rise Advisors LLC’s holdings in Blackstone were worth $465,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Compagnie Lombard Odier SCmA raised its stake in shares of Blackstone by 25.0% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 641,258 shares of the asset manager’s stock worth $98,196,000 after purchasing an additional 128,190 shares in the last quarter. Ameliora Wealth Management Ltd. lifted its stake in Blackstone by 2.1% in the third quarter. Ameliora Wealth Management Ltd. now owns 4,960 shares of the asset manager’s stock valued at $760,000 after acquiring an additional 100 shares during the last quarter. CVA Family Office LLC grew its position in Blackstone by 6.4% in the third quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock worth $187,000 after acquiring an additional 73 shares in the last quarter. Ayrshire Capital Management LLC raised its holdings in shares of Blackstone by 1.4% during the 3rd quarter. Ayrshire Capital Management LLC now owns 9,873 shares of the asset manager’s stock valued at $1,512,000 after purchasing an additional 134 shares in the last quarter. Finally, CHICAGO TRUST Co NA boosted its holdings in Blackstone by 39.8% in the third quarter. CHICAGO TRUST Co NA now owns 8,055 shares of the asset manager’s stock worth $1,233,000 after purchasing an additional 2,295 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

BX opened at $153.04 on Monday. The stock’s 50 day simple moving average is $143.72 and its 200-day simple moving average is $132.14. The stock has a market cap of $109.37 billion, a PE ratio of 54.08, a P/E/G ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $161.25. 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 (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same period last year, the company earned $0.93 EPS. Sell-side analysts forecast that Blackstone Inc. will post 4.46 EPS for the current year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s payout ratio is 115.90%.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their position. The sale 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 business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. TD Cowen boosted their price target on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Morgan Stanley upped their target price on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday. Barclays lifted their price target on shares of Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. 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, Wells Fargo & Company upped their price target on shares of Blackstone from $163.00 to $169.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Twelve research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $135.00.

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.