Intrepid Financial Planning Group LLC Has $2.52 Million Stake in Blackstone Inc. (NYSE:BX)

Intrepid Financial Planning Group LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,473 shares of the asset manager’s stock after selling 645 shares during the period. Blackstone makes up approximately 1.1% of Intrepid Financial Planning Group LLC’s holdings, making the stock its 22nd largest holding. Intrepid Financial Planning Group LLC’s holdings in Blackstone were worth $2,523,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Blackstone during the second quarter worth about $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 shares of Blackstone in the 3rd quarter worth about $27,000. Bank & Trust Co acquired a new position in Blackstone in the second quarter valued at about $29,000. Finally, Ridgewood Investments LLC bought a new position in shares of Blackstone in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of Blackstone 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 transaction, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction that occurred 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 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley boosted their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Redburn Atlantic started coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target for the company. BMO Capital Markets increased their price objective on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their price target on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $157.63.

Blackstone Stock Performance

Shares of BX stock opened at $183.16 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 12 month low of $96.93 and a 12 month high of $183.96. The company’s fifty day simple moving average is $157.93 and its 200-day simple moving average is $138.60. The firm has a market cap of $132.24 billion, a PE ratio of 62.94, a P/E/G ratio of 1.52 and a beta of 1.49.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. Equities research analysts expect that Blackstone Inc. will post 4.39 EPS for the current fiscal year.

Blackstone Increases Dividend

The company 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. The ex-dividend date was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 1.88%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

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.