Ingalls & Snyder LLC Has $498,000 Stake in Blackstone Inc. (NYSE:BX)

Ingalls & Snyder LLC raised its stake in shares of Blackstone Inc. (NYSE:BX) by 28.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,255 shares of the asset manager’s stock after acquiring an additional 719 shares during the quarter. Ingalls & Snyder LLC’s holdings in Blackstone were worth $498,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in BX. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Blackstone during the second quarter worth about $26,000. EdgeRock Capital LLC bought a new stake in Blackstone during the 2nd quarter worth approximately $27,000. West Financial Advisors LLC bought a new stake in shares of Blackstone during the third quarter worth $27,000. Ridgewood Investments LLC bought a new position in shares of Blackstone in the second quarter valued at about $31,000. Finally, J.Safra Asset Management Corp bought a new position in shares of Blackstone in the second quarter valued at about $32,000. Institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were 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 $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the firm’s 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 transaction, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on BX shares. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a research note on Wednesday, October 9th. The Goldman Sachs Group boosted their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Citigroup boosted their price objective on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company lifted their price target on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Thirteen 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, Blackstone presently has a consensus rating of “Hold” and an average target price of $157.63.

Blackstone Stock Down 0.5 %

NYSE:BX opened at $186.18 on Wednesday. The stock has a market cap of $134.42 billion, a price-to-earnings ratio of 63.98, a PEG ratio of 1.59 and a beta of 1.51. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $170.46 and a two-hundred day moving average price of $145.93. Blackstone Inc. has a 1 year low of $111.05 and a 1 year high of $200.96.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. As a group, equities analysts expect that Blackstone Inc. will post 4.4 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a $0.86 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 1.85%. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

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.