Resources Management Corp CT ADV Has $5.45 Million Stake in Blackstone Inc. (NYSE:BX)

Resources Management Corp CT ADV trimmed its holdings in Blackstone Inc. (NYSE:BX) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,600 shares of the asset manager’s stock after selling 138 shares during the period. Resources Management Corp CT ADV’s holdings in Blackstone were worth $5,451,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BX. EdgeRock Capital LLC bought a new position in Blackstone in the second quarter valued at approximately $27,000. West Financial Advisors LLC bought a new position in Blackstone in the third quarter valued at approximately $27,000. Ridgewood Investments LLC bought a new position in Blackstone in the second quarter valued at approximately $31,000. J.Safra Asset Management Corp bought a new position in Blackstone in the second quarter valued at approximately $32,000. Finally, Hantz Financial Services Inc. bought a new position in Blackstone in the second quarter valued at approximately $37,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In related 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 transaction, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on BX. The Goldman Sachs Group boosted their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. UBS Group boosted their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their target price on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Redburn Atlantic began coverage on shares of Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. Finally, Cowen reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $164.25.

Blackstone Stock Performance

Shares of BX opened at $185.39 on Tuesday. 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 market capitalization of $133.85 billion, a P/E ratio of 63.71, a price-to-earnings-growth ratio of 1.59 and a beta of 1.51. The firm’s fifty day simple moving average is $173.07 and its two-hundred day simple moving average is $147.64. Blackstone Inc. has a 12 month low of $112.09 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $2.43 billion for 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%. As a group, analysts predict that Blackstone Inc. will post 4.4 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is 118.21%.

Blackstone Company 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.