Wilmington Savings Fund Society FSB acquired a new position in Blackstone Inc. (NYSE:BX - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 29,391 shares of the asset manager's stock, valued at approximately $4,501,000.
Other institutional investors have also added to or reduced their stakes in the company. EdgeRock Capital LLC bought a new position in shares of Blackstone during the 2nd quarter worth approximately $27,000. West Financial Advisors LLC bought a new position in shares of Blackstone in the third quarter valued at approximately $27,000. Ridgewood Investments LLC acquired a new stake in Blackstone in the 2nd quarter valued at about $31,000. Hantz Financial Services Inc. bought a new stake in shares of Blackstone during the second quarter valued at approximately $37,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Blackstone in the second quarter worth about $39,000. 70.00% of the stock is owned by institutional investors and hedge funds.
In other news, Director Joseph Baratta sold 116,448 shares of the company's stock in a transaction dated 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 transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John G. Finley sold 42,249 shares of the company's 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 completion of the sale, the insider now directly owns 387,137 shares of the company's stock, valued at approximately $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. Insiders own 1.00% of the company's stock.
Shares of Blackstone stock opened at $190.29 on Friday. Blackstone Inc. has a 52 week low of $112.44 and a 52 week high of $200.96. The company has a market cap of $137.39 billion, a PE ratio of 65.39, a P/E/G ratio of 1.63 and a beta of 1.51. The business has a 50 day moving average of $175.41 and a 200 day moving average of $148.70. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.
Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share 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. As a group, equities research analysts forecast that Blackstone Inc. will post 4.43 earnings per share for the current year.
The firm 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. This represents a $3.44 annualized dividend and a yield of 1.81%. This is an increase from Blackstone's previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. Blackstone's dividend payout ratio is presently 118.21%.
BX has been the topic of several recent analyst reports. BMO Capital Markets increased their price objective on Blackstone from $112.00 to $134.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. Redburn Atlantic initiated coverage on shares of Blackstone in a report on Tuesday, August 27th. They set a "neutral" rating and a $134.00 price target for the company. JPMorgan Chase & Co. boosted their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Barclays raised their target price on Blackstone from $174.00 to $199.00 and gave the company an "equal weight" rating in a research note on Monday. Finally, UBS Group boosted their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $164.69.
View Our Latest Analysis on 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.
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