Castle Rock Wealth Management LLC Has $1.79 Million Stock Position in Blackstone Inc. (NYSE:BX)

Castle Rock Wealth Management LLC raised its stake in Blackstone Inc. (NYSE:BX) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,896 shares of the asset manager’s stock after acquiring an additional 153 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Blackstone were worth $1,786,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Blackstone by 2.0% during the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after buying an additional 1,290,324 shares in the last quarter. Capital World Investors increased its holdings in Blackstone by 7.5% in the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after purchasing an additional 2,546,886 shares in the last quarter. Wulff Hansen & CO. boosted its stake in shares of Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after purchasing an additional 7,281,128 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Blackstone by 2.3% during the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock worth $775,758,000 after purchasing an additional 141,616 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Blackstone by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock valued at $613,581,000 after buying an additional 21,450 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Up 2.2 %

Shares of BX traded up $3.35 on Friday, reaching $152.38. The company’s stock had a trading volume of 528,060 shares, compared to its average volume of 3,410,039. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $161.25. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The firm has a fifty day moving average of $143.32 and a 200-day moving average of $131.93. The stock has a market capitalization of $109.73 billion, a PE ratio of 56.90, a PEG ratio of 1.24 and a beta of 1.51.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the previous year, the company earned $0.93 EPS. The business’s revenue was up 166.9% compared to the same quarter last year. Equities analysts predict that Blackstone Inc. will post 4.46 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a yield of 2.15%. Blackstone’s dividend payout ratio (DPR) is currently 125.19%.

Analyst Ratings Changes

BX has been the subject of several recent research reports. Wells Fargo & Company upped their price target on shares of Blackstone from $163.00 to $169.00 and gave the company an “overweight” rating in a research report on Wednesday. TD Cowen raised their target price on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Barclays increased their price target on Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a research note on Monday. Bank of America lifted their price objective on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, The Goldman Sachs Group raised their price target on shares of Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Twelve research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $135.00.

Insider Buying and Selling at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the business’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 directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of Blackstone 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 transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 35,000 shares of the company’s 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 owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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.