Blackstone Inc. (NYSE:BX) Stock Holdings Raised by CFM Wealth Partners LLC

CFM Wealth Partners LLC increased its position in Blackstone Inc. (NYSE:BX) by 21.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,434 shares of the asset manager’s stock after purchasing an additional 435 shares during the period. CFM Wealth Partners LLC’s holdings in Blackstone were worth $373,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chilton Capital Management LLC acquired a new position in Blackstone in the first quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone in the second quarter valued at approximately $26,000. EdgeRock Capital LLC acquired a new position in Blackstone during the 2nd quarter valued at approximately $27,000. West Financial Advisors LLC acquired a new position in shares of Blackstone during the third quarter valued at $27,000. Finally, Bank & Trust Co acquired a new position in Blackstone during the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BX. Deutsche Bank Aktiengesellschaft increased their price objective on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Evercore ISI lifted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a research report on Wednesday, October 9th. Wells Fargo & Company upped their target price on Blackstone from $163.00 to $169.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their target price on Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $136.18.

Blackstone Stock Performance

BX stock opened at $156.35 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $111.73 billion, a price-to-earnings ratio of 55.25, a P/E/G ratio of 1.24 and a beta of 1.51. The firm has a 50 day moving average of $144.76 and a two-hundred day moving average of $132.48. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $161.25.

Blackstone (NYSE:BX) last released its earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). The company had revenue of $3.69 billion for 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%. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.93 earnings per share. As a group, equities analysts anticipate that Blackstone Inc. will post 4.46 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were given a dividend of $0.82 per share. The ex-dividend date was Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.10%. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were 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 owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.