Blackstone Inc. (NYSE:BX) Shares Acquired by Intellectus Partners LLC

Intellectus Partners LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 5.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 17,414 shares of the asset manager’s stock after purchasing an additional 857 shares during the quarter. Intellectus Partners LLC’s holdings in Blackstone were worth $2,667,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Portside Wealth Group LLC purchased a new stake in shares of Blackstone during the third quarter worth approximately $201,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Blackstone by 1.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after purchasing an additional 7,692 shares in the last quarter. Blue Trust Inc. raised its stake in Blackstone by 936.2% in the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock valued at $783,000 after buying an additional 5,383 shares in the last quarter. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Blackstone during the 3rd quarter worth about $557,000. Finally, Scientech Research LLC acquired a new position in Blackstone in the second quarter valued at approximately $1,364,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Performance

Shares of NYSE:BX opened at $181.21 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Blackstone Inc. has a 12 month low of $102.59 and a 12 month high of $184.34. The firm has a market capitalization of $130.83 billion, a PE ratio of 62.27, a P/E/G ratio of 1.55 and a beta of 1.49. The business has a 50-day moving average of $159.65 and a two-hundred day moving average of $139.31.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. As a group, research analysts forecast that Blackstone Inc. will post 4.39 earnings per share for the current year.

Blackstone Increases Dividend

The firm 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. The ex-dividend date of this dividend was Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 1.90%. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Analysts Set New Price Targets

BX has been the subject of several research analyst reports. Morgan Stanley upped their target price on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. BMO Capital Markets lifted their target price on shares of Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Redburn Atlantic started coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $157.63.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the 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 sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by 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.