2,807 Shares in Blackstone Inc. (NYSE:BX) Acquired by WorthPointe LLC

WorthPointe LLC purchased a new stake in shares of Blackstone Inc. (NYSE:BX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,807 shares of the asset manager’s stock, valued at approximately $430,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. 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 valued at $926,000 after purchasing an additional 4,050 shares during the last quarter. Portside Wealth Group LLC purchased a new stake in shares of Blackstone during the 3rd quarter valued at $201,000. Wealth Enhancement Advisory Services LLC grew its stake in Blackstone by 1.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after buying an additional 7,692 shares during the last quarter. Aljian Capital Management LLC acquired a new stake in Blackstone in the third quarter worth about $1,951,000. Finally, Icon Wealth Advisors LLC increased its holdings in shares of Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after acquiring an additional 18,117 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on BX. Wells Fargo & Company upped their price target on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Barclays boosted their price target on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. BMO Capital Markets raised their price target on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Finally, Bank of America raised their target price on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus target price of $157.63.

Blackstone Price Performance

NYSE:BX opened at $191.64 on Wednesday. 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 stock has a 50 day moving average of $167.36 and a two-hundred day moving average of $143.76. The firm has a market cap of $138.36 billion, a P/E ratio of 65.86, a price-to-earnings-growth ratio of 1.64 and a beta of 1.49. Blackstone Inc. has a 12 month low of $105.51 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.37 billion. On average, analysts expect that Blackstone Inc. will post 4.4 earnings per share for the current fiscal 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. The ex-dividend date was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 1.80%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is 118.21%.

Insider Transactions at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred 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 sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

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.