Tyler Stone Wealth Management Grows Stock Position in Blackstone Inc. (NYSE:BX)

Tyler Stone Wealth Management grew its stake in shares of Blackstone Inc. (NYSE:BX) by 94.0% in the third quarter, HoldingsChannel reports. The fund owned 51,131 shares of the asset manager’s stock after buying an additional 24,774 shares during the quarter. Blackstone makes up about 1.5% of Tyler Stone Wealth Management’s portfolio, making the stock its 14th largest position. Tyler Stone Wealth Management’s holdings in Blackstone were worth $7,830,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Chilton Capital Management LLC purchased a new position in shares of Blackstone in the 1st quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Blackstone in the second quarter valued at approximately $26,000. EdgeRock Capital LLC acquired a new stake in shares of Blackstone in the second quarter worth $27,000. West Financial Advisors LLC acquired a new position in shares of Blackstone during the 3rd quarter valued at $27,000. Finally, Bank & Trust Co acquired a new stake in Blackstone in the 2nd quarter valued at $29,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the 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 $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 Securities & Exchange Commission, which is available at the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of the 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 completion of the transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction 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 approximately $68,112,883.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BX shares. 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, October 10th. BMO Capital Markets lifted their price objective on shares of Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. TD Cowen upped 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. Finally, UBS Group lifted their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $155.38.

Blackstone Stock Performance

Blackstone stock traded up $1.16 during midday trading on Friday, reaching $177.46. 2,768,709 shares of the stock traded hands, compared to its average volume of 3,511,513. Blackstone Inc. has a fifty-two week low of $96.15 and a fifty-two week high of $178.63. The company has a current ratio of 0.71, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The firm has a market cap of $128.13 billion, a price-to-earnings ratio of 60.98, a PEG ratio of 1.51 and a beta of 1.49. The firm has a fifty day moving average price of $157.11 and a two-hundred day moving average price of $137.98.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. On average, 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. Stockholders of record on Monday, October 28th were given a dividend of $0.86 per share. The ex-dividend date of this dividend was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 1.94%. Blackstone’s dividend payout ratio (DPR) is 118.21%.

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.