Blackstone Inc. (NYSE:BX) Shares Sold by Crewe Advisors LLC

Crewe Advisors LLC lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,836 shares of the asset manager’s stock after selling 109 shares during the quarter. Crewe Advisors LLC’s holdings in Blackstone were worth $587,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Larson Financial Group LLC increased its holdings in shares of Blackstone by 51.8% in the third quarter. Larson Financial Group LLC now owns 5,153 shares of the asset manager’s stock valued at $789,000 after purchasing an additional 1,759 shares during the period. Baltimore Washington Financial Advisors Inc. boosted its position in Blackstone by 2.3% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 200,388 shares of the asset manager’s stock valued at $30,685,000 after buying an additional 4,430 shares during the last quarter. Nicolet Advisory Services LLC raised its position in Blackstone by 3.4% during the 3rd quarter. Nicolet Advisory Services LLC now owns 11,467 shares of the asset manager’s stock worth $1,734,000 after buying an additional 379 shares during the last quarter. Meridian Wealth Management LLC boosted its holdings in shares of Blackstone by 18.4% in the 3rd quarter. Meridian Wealth Management LLC now owns 3,004 shares of the asset manager’s stock valued at $460,000 after acquiring an additional 467 shares during the last quarter. Finally, Nwam LLC acquired a new position in Blackstone during the third quarter valued at $1,238,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the company’s 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 of the company’s stock, valued at $120,610,146.69. This represents a 12.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated 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 directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on BX. Redburn Atlantic initiated 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. UBS Group boosted their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. 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 research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $157.63.

Blackstone Trading Up 2.6 %

Shares of BX opened at $199.05 on Friday. The firm’s fifty day moving average is $165.86 and its two-hundred day moving average is $142.62. The stock has a market cap of $143.71 billion, a PE ratio of 68.40, a price-to-earnings-growth ratio of 1.65 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. Blackstone Inc. has a 52-week low of $105.51 and a 52-week high of $199.95.

Blackstone (NYSE:BX) last announced its quarterly earnings data 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. The company had revenue of $2.43 billion during 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%. Research analysts forecast 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 $0.86 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s dividend payout ratio is presently 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.