Blackstone Inc. (NYSE:BX) Shares Sold by Jeppson Wealth Management LLC

Jeppson Wealth Management LLC reduced its position in Blackstone Inc. (NYSE:BX) by 1.5% in the 3rd quarter, Holdings Channel reports. The fund owned 6,838 shares of the asset manager’s stock after selling 105 shares during the period. Jeppson Wealth Management LLC’s holdings in Blackstone were worth $1,047,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of analysts recently weighed in on BX shares. Morgan Stanley upped their price target 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. UBS Group boosted their price objective on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Bank of America upped their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Citigroup upped their target price on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $157.63.

Insider Buying and Selling

In other Blackstone 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 completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction 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 transaction, 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 position. 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 firm’s 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 transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Up 3.2 %

Shares of NYSE:BX opened at $183.16 on Tuesday. The stock has a market capitalization of $132.24 billion, a price-to-earnings ratio of 62.94, a PEG ratio of 1.52 and a beta of 1.49. Blackstone Inc. has a 1-year low of $96.93 and a 1-year high of $183.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. The company has a 50 day moving average price of $157.11 and a 200 day moving average price of $138.18.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 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 firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. On average, research analysts anticipate that Blackstone Inc. will post 4.39 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a $0.86 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 1.88%. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Blackstone Company 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.