1,638 Shares in Blackstone Inc. (NYSE:BX) Acquired by Chesapeake Wealth Management

Chesapeake Wealth Management acquired a new stake in Blackstone Inc. (NYSE:BX) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,638 shares of the asset manager’s stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sather Financial Group Inc grew its stake in Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares during the period. Portside Wealth Group LLC purchased a new position in Blackstone during the 3rd quarter valued at approximately $201,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Blackstone by 1.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after purchasing an additional 7,692 shares during the last quarter. Aljian Capital Management LLC bought a new stake in shares of Blackstone during the 3rd quarter worth approximately $1,951,000. Finally, Blue Trust Inc. raised its position in Blackstone by 936.2% during the 2nd quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock valued at $783,000 after purchasing an additional 5,383 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BX. Evercore ISI lifted their price target on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Redburn Atlantic initiated coverage on Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Thirteen equities research 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 currently has an average rating of “Hold” and an average price target of $157.63.

Blackstone Trading Up 0.9 %

BX stock opened at $183.05 on Tuesday. Blackstone Inc. has a 52 week low of $104.39 and a 52 week high of $184.34. The company has a market cap of $132.16 billion, a price-to-earnings ratio of 62.90, a PEG ratio of 1.54 and a beta of 1.49. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $162.26 and a 200-day simple moving average of $140.80.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. On average, equities research analysts expect that Blackstone Inc. will post 4.39 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 1.88%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.