Cravens & Co Advisors LLC Has $1.46 Million Stake in Blackstone Inc. (NYSE:BX)

Cravens & Co Advisors LLC decreased its holdings in shares of Blackstone Inc. (NYSE:BX) by 7.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,559 shares of the asset manager’s stock after selling 757 shares during the quarter. Blackstone makes up about 1.1% of Cravens & Co Advisors LLC’s holdings, making the stock its 14th biggest position. Cravens & Co Advisors LLC’s holdings in Blackstone were worth $1,464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BX. Wulff Hansen & CO. lifted its stake in shares of Blackstone by 12,192.7% in the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after buying an additional 7,281,128 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after purchasing an additional 4,173,971 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Blackstone by 213.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock valued at $170,345,000 after purchasing an additional 937,084 shares during the period. Mackenzie Financial Corp increased its position in Blackstone by 468.4% in the 2nd quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock worth $137,114,000 after buying an additional 912,685 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Blackstone by 7,917.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock valued at $49,520,000 after acquiring an additional 395,011 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on BX shares. Redburn Atlantic assumed 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. TD Cowen increased their target price on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research note on Friday, October 18th. The Goldman Sachs Group upped their price target on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, BMO Capital Markets lifted 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. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $157.63.

Blackstone Stock Down 0.8 %

Shares of NYSE BX opened at $191.64 on Wednesday. Blackstone Inc. has a 12-month low of $105.51 and a 12-month high of $200.96. The company has a market cap of $138.36 billion, a price-to-earnings ratio of 65.86, a price-to-earnings-growth ratio of 1.64 and a beta of 1.49. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm’s 50-day simple moving average is $167.36 and its 200 day simple moving average is $143.76.

Blackstone (NYSE:BX) last issued 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 net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. On average, research analysts expect that Blackstone Inc. will post 4.4 earnings per share for the current fiscal year.

Blackstone Increases Dividend

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

About Blackstone

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.