Blackstone Inc. (NYSE:BX) Shares Bought by Stratos Investment Management LLC

Stratos Investment Management LLC boosted its holdings in Blackstone Inc. (NYSE:BX) by 7.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,358 shares of the asset manager’s stock after purchasing an additional 306 shares during the quarter. Stratos Investment Management LLC’s holdings in Blackstone were worth $667,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Chilton Capital Management LLC acquired a new position in Blackstone during the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Blackstone during the second quarter worth approximately $26,000. EdgeRock Capital LLC acquired a new stake in Blackstone in the 2nd quarter valued at approximately $27,000. West Financial Advisors LLC acquired a new position in Blackstone during the 3rd quarter worth $27,000. Finally, Bank & Trust Co acquired a new position in shares of Blackstone during the second quarter valued at $29,000. Institutional investors own 70.00% of the company’s stock.

Insider Activity

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

Blackstone Stock Performance

Shares of Blackstone stock opened at $172.36 on Friday. The stock has a market cap of $123.18 billion, a PE ratio of 60.90, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $175.94. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $147.01 and a 200-day simple moving average of $133.27.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 EPS. On average, sell-side analysts anticipate that Blackstone Inc. will post 4.46 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be given a $0.86 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 2.00%. Blackstone’s dividend payout ratio is presently 115.90%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BX shares. Morgan Stanley increased their target price on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Redburn Atlantic assumed coverage on shares of Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective on the stock. Evercore ISI increased their price target on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target for the company. in a report on Wednesday, October 9th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $152.41.

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.