Summit Trail Advisors LLC Boosts Stock Holdings in Blackstone Inc. (NYSE:BX)

Summit Trail Advisors LLC lifted its holdings in Blackstone Inc. (NYSE:BX) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,346 shares of the asset manager’s stock after purchasing an additional 285 shares during the period. Summit Trail Advisors LLC’s holdings in Blackstone were worth $2,197,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone in the 2nd quarter valued at about $26,000. EdgeRock Capital LLC purchased a new position in shares of Blackstone in the 2nd quarter valued at $27,000. West Financial Advisors LLC acquired a new stake in Blackstone in the third quarter valued at approximately $27,000. Bank & Trust Co acquired a new stake in Blackstone in the 2nd quarter worth approximately $29,000. Finally, Ridgewood Investments LLC acquired a new position in shares of Blackstone in the 2nd quarter valued at $31,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Price Performance

BX stock opened at $199.05 on Monday. 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 firm has a market capitalization of $143.71 billion, a PE ratio of 68.40, a P/E/G ratio of 1.65 and a beta of 1.49. Blackstone Inc. has a one year low of $105.51 and a one year high of $199.95. The firm has a 50-day moving average of $165.86 and a two-hundred day moving average of $142.79.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, analysts forecast that Blackstone Inc. will post 4.4 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.73%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the firm’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 completion of the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. The Goldman Sachs Group boosted their target price on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets boosted their price target on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. UBS Group lifted their price objective on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus target price 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.