Insigneo Advisory Services LLC Increases Stock Holdings in Blackstone Inc. (NYSE:BX)

Insigneo Advisory Services LLC raised its position in shares of Blackstone Inc. (NYSE:BX) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,718 shares of the asset manager’s stock after purchasing an additional 544 shares during the quarter. Blackstone accounts for 0.5% of Insigneo Advisory Services LLC’s portfolio, making the stock its 24th largest position. Insigneo Advisory Services LLC’s holdings in Blackstone were worth $5,316,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BX. EdgeRock Capital LLC purchased a new stake in Blackstone during the 2nd quarter valued at about $27,000. West Financial Advisors LLC purchased a new stake in shares of Blackstone in the third quarter worth about $27,000. Ridgewood Investments LLC purchased a new stake in shares of Blackstone in the second quarter worth about $31,000. J.Safra Asset Management Corp purchased a new stake in shares of Blackstone in the second quarter worth about $32,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of Blackstone in the second quarter worth about $37,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 0.9 %

Shares of Blackstone stock opened at $187.20 on Friday. The firm has a market capitalization of $135.16 billion, a price-to-earnings ratio of 64.33, a PEG ratio of 1.58 and a beta of 1.51. Blackstone Inc. has a fifty-two week low of $111.05 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a 50 day moving average of $171.79 and a 200 day moving average of $146.50.

Blackstone (NYSE:BX) last posted 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 return on equity of 17.53% and a net margin of 19.46%. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. As a group, research analysts predict 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. The ex-dividend date of this dividend was Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.84%. Blackstone’s dividend payout ratio is currently 118.21%.

Analysts Set New Price Targets

BX has been the subject of a number of analyst reports. Citigroup upped their price target on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Redburn Atlantic initiated coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target for the company. Morgan Stanley upped their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. TD Cowen upped their price target on Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a report on Friday, October 18th. Finally, BMO Capital Markets increased their target price on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $157.63.

Insider Transactions at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Finley sold 42,249 shares of the 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 completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.