Blackstone Inc. (NYSE:BX) Shares Bought by Quotient Wealth Partners LLC

Quotient Wealth Partners LLC boosted its stake in Blackstone Inc. (NYSE:BX) by 43.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,599 shares of the asset manager’s stock after acquiring an additional 785 shares during the period. Quotient Wealth Partners LLC’s holdings in Blackstone were worth $398,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Modus Advisors LLC boosted its stake in Blackstone by 2.1% in the third quarter. Modus Advisors LLC now owns 33,112 shares of the asset manager’s stock valued at $5,070,000 after acquiring an additional 674 shares during the period. Bruce G. Allen Investments LLC boosted its holdings in shares of Blackstone by 56.3% in the third quarter. Bruce G. Allen Investments LLC now owns 733 shares of the asset manager’s stock valued at $112,000 after acquiring an additional 264 shares in the last quarter. Enterprise Bank & Trust Co grew its holdings in Blackstone by 11.1% during the third quarter. Enterprise Bank & Trust Co now owns 4,201 shares of the asset manager’s stock worth $643,000 after acquiring an additional 421 shares during the period. Sanibel Captiva Trust Company Inc. increased its holdings in shares of Blackstone by 66.7% in the third quarter. Sanibel Captiva Trust Company Inc. now owns 34,983 shares of the asset manager’s stock valued at $5,357,000 after buying an additional 13,997 shares in the last quarter. Finally, Wedmont Private Capital raised its holdings in Blackstone by 23.2% during the 3rd quarter. Wedmont Private Capital now owns 7,324 shares of the asset manager’s stock worth $1,092,000 after buying an additional 1,377 shares during the period. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BX. The Goldman Sachs Group increased their price objective on Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. TD Cowen boosted their target price on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Wells Fargo & Company raised their price target on shares of Blackstone from $163.00 to $169.00 and gave the stock an “overweight” rating in a research report on Wednesday. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a report on Wednesday. Finally, Redburn Atlantic began coverage on Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective for the company. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $135.00.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 completion of the sale, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Blackstone Price Performance

BX opened at $149.07 on Friday. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $161.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market capitalization of $106.53 billion, a PE ratio of 52.67, a P/E/G ratio of 1.34 and a beta of 1.51. The company has a fifty day moving average price of $143.08 and a two-hundred day moving average price of $131.81.

Blackstone (NYSE:BX) last released its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 EPS. As a group, analysts anticipate that Blackstone Inc. will post 4.57 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.20%. Blackstone’s dividend payout ratio is 115.90%.

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.