Dynamic Technology Lab Private Ltd Acquires 5,998 Shares of Blackstone Inc. (NYSE:BX)

Dynamic Technology Lab Private Ltd boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 260.0% in the third quarter, HoldingsChannel reports. The fund owned 8,305 shares of the asset manager’s stock after acquiring an additional 5,998 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Blackstone were worth $1,272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Blackstone during the second quarter valued at approximately $26,000. EdgeRock Capital LLC bought a new position in shares of Blackstone during the second quarter valued at $27,000. West Financial Advisors LLC bought a new stake in Blackstone in the 3rd quarter worth about $27,000. Bank & Trust Co purchased a new stake in shares of Blackstone during the 2nd quarter valued at about $29,000. Finally, Ridgewood Investments LLC bought a new stake in shares of Blackstone in the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Trading Down 0.8 %

Shares of BX opened at $191.64 on Wednesday. Blackstone Inc. has a twelve month low of $105.51 and a twelve month high of $200.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $167.36 and its 200-day simple moving average is $143.76. The company has a market cap of $138.36 billion, a P/E ratio of 65.86, a P/E/G ratio of 1.69 and a beta of 1.49.

Blackstone (NYSE:BX) last announced its earnings results 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 business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. As a group, analysts expect that Blackstone Inc. will post 4.4 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a dividend of $0.86 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s payout ratio is currently 118.21%.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction on 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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BX shares. Morgan Stanley lifted their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted their price target on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lifted 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. Finally, Bank of America upped their price target on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus price target of $157.63.

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.