Embree Financial Group Has $9.39 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Embree Financial Group raised its holdings in Blackstone Inc. (NYSE:BX) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,295 shares of the asset manager’s stock after purchasing an additional 1,043 shares during the quarter. Blackstone accounts for approximately 1.7% of Embree Financial Group’s investment portfolio, making the stock its 14th biggest position. Embree Financial Group’s holdings in Blackstone were worth $9,386,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BX. Seamount Financial Group Inc. boosted its position in Blackstone by 1.7% in the third quarter. Seamount Financial Group Inc. now owns 5,463 shares of the asset manager’s stock valued at $837,000 after buying an additional 90 shares in the last quarter. ST Germain D J Co. Inc. increased its position in Blackstone by 1.2% in the 3rd quarter. ST Germain D J Co. Inc. now owns 90,069 shares of the asset manager’s stock valued at $13,792,000 after acquiring an additional 1,053 shares during the period. First Citizens Bank & Trust Co. acquired a new position in Blackstone during the 3rd quarter worth about $227,000. Moss Adams Wealth Advisors LLC increased its position in Blackstone by 5.5% in the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 2,279 shares of the asset manager’s stock valued at $349,000 after buying an additional 118 shares in the last quarter. Finally, Stratos Investment Management LLC boosted its holdings in Blackstone by 7.6% in the third quarter. Stratos Investment Management LLC now owns 4,358 shares of the asset manager’s stock worth $667,000 after acquiring an additional 306 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Up 1.5 %

Shares of Blackstone stock opened at $172.36 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $123.18 billion, a P/E ratio of 60.90, a P/E/G ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $175.94. The stock’s 50-day simple moving average is $147.01 and its 200 day simple moving average is $133.27.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the company earned $0.93 EPS. The company’s revenue was up 166.9% on a year-over-year basis. As a group, research analysts anticipate that Blackstone Inc. will post 4.46 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, October 28th. Blackstone’s dividend payout ratio is presently 115.90%.

Analysts Set New Price Targets

A number of analysts have commented on BX shares. UBS Group boosted their price objective on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday. Evercore ISI raised their price objective on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. upped their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday. TD Cowen boosted their price target on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a report on Friday. Finally, 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. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Blackstone has an average rating of “Hold” and an average target price of $152.41.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on 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 owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Blackstone 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.