Blackstone Inc. (NYSE:BX) Shares Bought by Graypoint LLC

Graypoint LLC raised its position in Blackstone Inc. (NYSE:BX) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,924 shares of the asset manager’s stock after buying an additional 228 shares during the period. Graypoint LLC’s holdings in Blackstone were worth $6,711,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sather Financial Group Inc raised its position in shares of Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after buying an additional 4,050 shares during the last quarter. Portside Wealth Group LLC acquired a new position in shares of Blackstone during the 3rd quarter worth approximately $201,000. Aljian Capital Management LLC acquired a new stake in shares of Blackstone in the third quarter valued at approximately $1,951,000. Icon Wealth Advisors LLC boosted its stake in Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after buying an additional 18,117 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Blackstone by 3.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager’s stock worth $179,089,000 after acquiring an additional 36,343 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Price Performance

BX stock traded down $8.97 on Friday, reaching $165.00. The company had a trading volume of 5,077,164 shares, compared to its average volume of 2,703,596. Blackstone Inc. has a 1 year low of $114.88 and a 1 year high of $200.96. The company has a market cap of $119.13 billion, a P/E ratio of 56.70, a PEG ratio of 1.63 and a beta of 1.53. The company’s fifty day moving average is $180.80 and its 200 day moving average is $156.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Blackstone (NYSE:BX) last released its quarterly 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 company had revenue of $2.43 billion for 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%. On average, research analysts forecast that Blackstone Inc. will post 4.43 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed 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. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s dividend payout ratio is presently 118.21%.

Insider Buying and Selling

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction that occurred 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 sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays lifted their target price on shares of Blackstone from $174.00 to $199.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Citigroup upped their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group upped their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and lifted their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $171.00.

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.