Eagle Ridge Investment Management Has $346,000 Holdings in Blackstone Inc. (NYSE:BX)

Eagle Ridge Investment Management lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 18.8% during the third quarter, HoldingsChannel reports. The firm owned 2,257 shares of the asset manager’s stock after acquiring an additional 357 shares during the quarter. Eagle Ridge Investment Management’s holdings in Blackstone were worth $346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BX. Brookstone Capital Management lifted its holdings in shares of Blackstone by 40.9% in the first quarter. Brookstone Capital Management now owns 8,332 shares of the asset manager’s stock valued at $1,095,000 after purchasing an additional 2,417 shares in the last quarter. Aspiriant LLC bought a new stake in shares of Blackstone in the first quarter worth $349,000. Kathmere Capital Management LLC grew its position in Blackstone by 6.6% in the first quarter. Kathmere Capital Management LLC now owns 8,848 shares of the asset manager’s stock valued at $1,162,000 after purchasing an additional 545 shares in the last quarter. Independence Bank of Kentucky lifted its position in Blackstone by 281.3% during the 1st quarter. Independence Bank of Kentucky now owns 2,894 shares of the asset manager’s stock worth $380,000 after buying an additional 2,135 shares in the last quarter. Finally, Trifecta Capital Advisors LLC bought a new position in shares of Blackstone in the 1st quarter valued at about $51,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Joseph Baratta sold 116,448 shares of the business’s 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 transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of Blackstone stock opened at $169.66 on Friday. The company has a 50-day simple moving average of $149.16 and a two-hundred day simple moving average of $134.15. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $175.94. The stock has a market capitalization of $121.25 billion, a price-to-earnings ratio of 59.95, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is 121.55%.

Analyst Ratings Changes

A number of research firms have weighed in on BX. The Goldman Sachs Group raised their price target on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley boosted their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. TD Cowen lifted their price objective on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Cowen reiterated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Finally, Citigroup upped their price objective on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $155.38.

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.