Fifth Third Wealth Advisors LLC Purchases 1,615 Shares of Blackstone Inc. (NYSE:BX)

Fifth Third Wealth Advisors LLC boosted its position in Blackstone Inc. (NYSE:BX) by 27.0% in the third quarter, Holdings Channel.com reports. The firm owned 7,591 shares of the asset manager’s stock after purchasing an additional 1,615 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Blackstone were worth $1,162,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BX. BIP Wealth LLC acquired a new stake in shares of Blackstone in the third quarter valued at about $237,000. Chesapeake Wealth Management acquired a new position in shares of Blackstone in the 3rd quarter worth approximately $251,000. Vertex Planning Partners LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at $338,000. Whalen Wealth Management Inc. raised its stake in Blackstone by 57.8% during the third quarter. Whalen Wealth Management Inc. now owns 6,013 shares of the asset manager’s stock worth $921,000 after buying an additional 2,202 shares during the last quarter. Finally, Caprock Group LLC boosted its position in Blackstone by 58.1% during the third quarter. Caprock Group LLC now owns 6,734 shares of the asset manager’s stock valued at $1,031,000 after acquiring an additional 2,474 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft upped 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. TD Cowen raised their price objective on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. Evercore ISI raised their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Cowen restated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their price objective on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $157.63.

Insider Activity

In related news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 12.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John G. Finley sold 42,249 shares of the 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 transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 1.0 %

NYSE:BX opened at $184.87 on Wednesday. Blackstone Inc. has a 52 week low of $104.39 and a 52 week high of $186.32. The firm has a 50-day moving average price of $163.11 and a two-hundred day moving average price of $141.27. The firm has a market cap of $133.48 billion, a price-to-earnings ratio of 63.53, a price-to-earnings-growth ratio of 1.54 and a beta of 1.49. 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 (NYSE:BX) last posted its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 17.53% and a net margin of 19.46%. On average, equities analysts expect that Blackstone Inc. will post 4.39 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.86%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s payout ratio is presently 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.