Marco Investment Management LLC Purchases New Shares in Blackstone Inc. (NYSE:BX)

Marco Investment Management LLC purchased a new stake in Blackstone Inc. (NYSE:BX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,256 shares of the asset manager’s stock, valued at approximately $345,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 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 buying an additional 62 shares during the period. Capital Advisors Ltd. LLC grew its stake in shares of Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after purchasing an additional 62 shares during the period. Fidelis Capital Partners LLC grew its stake in shares of Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after purchasing an additional 62 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Blackstone by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock worth $2,132,000 after purchasing an additional 64 shares during the period. Finally, Lindbrook Capital LLC grew its stake in shares of Blackstone by 1.1% during the 3rd quarter. Lindbrook Capital LLC now owns 5,743 shares of the asset manager’s stock worth $879,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 2.6 %

BX opened at $199.05 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Blackstone Inc. has a 1 year low of $105.51 and a 1 year high of $199.95. The firm has a 50 day moving average price of $165.86 and a 200 day moving average price of $142.62. The company has a market cap of $143.71 billion, a PE ratio of 68.40, a price-to-earnings-growth ratio of 1.65 and a beta of 1.49.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Sell-side analysts expect that Blackstone Inc. will post 4.4 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were given a $0.86 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 1.73%. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on 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 transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction 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 sale, the insider now 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 position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BX. UBS Group increased their price objective on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Bank of America increased their price objective on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Evercore ISI increased their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup increased their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Barclays upped their target price on shares of Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus target price of $157.63.

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.