Blackstone Inc. (NYSE:BX) Shares Sold by Brown Financial Advisors

Brown Financial Advisors reduced its holdings in Blackstone Inc. (NYSE:BX) by 41.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,380 shares of the asset manager’s stock after selling 2,434 shares during the quarter. Brown Financial Advisors’ holdings in Blackstone were worth $518,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BX. Glen Eagle Advisors LLC increased its stake in Blackstone by 1.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock valued at $498,000 after purchasing an additional 59 shares in the last quarter. Investmark Advisory Group LLC increased its stake in Blackstone by 2.4% in the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after purchasing an additional 60 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in Blackstone by 2.3% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after purchasing an additional 62 shares in the last quarter. Finally, Fidelis Capital Partners LLC increased its stake in Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after purchasing an additional 62 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Price Performance

Shares of Blackstone stock opened at $189.56 on Wednesday. Blackstone Inc. has a twelve month low of $112.09 and a twelve month high of $200.96. The stock has a market capitalization of $136.86 billion, a P/E ratio of 65.14, a PEG ratio of 1.59 and a beta of 1.51. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The business’s fifty day moving average price is $173.07 and its 200 day moving average price is $147.64.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, research analysts anticipate that Blackstone Inc. will post 4.4 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is currently 118.21%.

Analyst Ratings Changes

Several research firms have weighed in on BX. Deutsche Bank Aktiengesellschaft raised their price target on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. BMO Capital Markets raised their price target on Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and raised their price target for the stock from $149.00 to $230.00 in a research report on Monday. UBS Group raised their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $164.25.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of Blackstone 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 sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were 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 directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently 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.