Blackstone Inc. (NYSE:BX) Shares Purchased by Capital Investment Advisors LLC

Capital Investment Advisors LLC grew its stake in Blackstone Inc. (NYSE:BX) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,136 shares of the asset manager’s stock after purchasing an additional 194 shares during the quarter. Capital Investment Advisors LLC’s holdings in Blackstone were worth $2,093,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BX. Sather Financial Group Inc raised its position in shares of 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 buying an additional 4,050 shares during the last quarter. Portside Wealth Group LLC purchased a new position in Blackstone in the 3rd quarter worth approximately $201,000. Aljian Capital Management LLC purchased a new stake in shares of Blackstone in the third quarter valued at approximately $1,951,000. Icon Wealth Advisors LLC increased its holdings in shares of Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after purchasing an additional 18,117 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Blackstone by 3.2% during the third quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock worth $179,089,000 after buying an additional 36,343 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity

In related news, 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 transaction of $7,433,289.06. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX opened at $165.70 on Tuesday. The stock’s 50-day moving average is $180.71 and its two-hundred day moving average is $157.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $119.64 billion, a price-to-earnings ratio of 56.94, a price-to-earnings-growth ratio of 1.63 and a beta of 1.53. Blackstone Inc. has a 1-year low of $114.88 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly 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 company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Analysts forecast that Blackstone Inc. will post 4.43 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.08%. 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 payout ratio is 118.21%.

Analyst Ratings Changes

Several research analysts have recently weighed in on BX shares. BMO Capital Markets boosted their price target on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. UBS Group increased their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their price objective on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Piper Sandler upped their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Finally, The Goldman Sachs Group raised their price objective on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $170.50.

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.