Claro Advisors LLC Buys 291 Shares of Blackstone Inc. (NYSE:BX)

Claro Advisors LLC raised its stake in shares of Blackstone Inc. (NYSE:BX) by 5.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,095 shares of the asset manager’s stock after purchasing an additional 291 shares during the period. Claro Advisors LLC’s holdings in Blackstone were worth $933,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Raleigh Capital Management Inc. boosted its stake in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the period. Capital Advisors Ltd. LLC boosted its stake in shares of Blackstone by 2.3% in the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after acquiring an additional 62 shares during the period. Fidelis Capital Partners LLC boosted its stake in shares of Blackstone by 2.7% in the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after acquiring an additional 62 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Blackstone by 0.5% in the third quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock worth $2,132,000 after acquiring an additional 64 shares during the period. Finally, Lindbrook Capital LLC boosted its stake in shares of Blackstone by 1.1% in the third quarter. Lindbrook Capital LLC now owns 5,743 shares of the asset manager’s stock worth $879,000 after acquiring an additional 65 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated 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 in the company, valued at $120,610,146.69. This trade represents a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock opened at $181.41 on Monday. The firm has a market capitalization of $130.98 billion, a price-to-earnings ratio of 62.34, a price-to-earnings-growth ratio of 1.54 and a beta of 1.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day moving average of $161.40 and a 200 day moving average of $140.34. Blackstone Inc. has a 1 year low of $102.79 and a 1 year high of $184.34.

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, topping analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, research analysts expect that Blackstone Inc. will post 4.39 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. Shareholders of record on Monday, October 28th were paid 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 1.90%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wells Fargo & Company boosted their target price on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Barclays upped their price objective on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Evercore ISI upped their price objective on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Morgan Stanley upped their price objective on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a report on Wednesday, October 9th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.