Nwam LLC Buys Shares of 8,088 Blackstone Inc. (NYSE:BX)

Nwam LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 8,088 shares of the asset manager’s stock, valued at approximately $1,238,000.

Other hedge funds also recently added to or reduced their stakes in the company. Icon Wealth Advisors LLC increased its position in Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after acquiring an additional 18,117 shares during the period. GM Advisory Group LLC acquired a new position in shares of Blackstone during the third quarter valued at $339,000. Biltmore Family Office LLC acquired a new stake in Blackstone in the third quarter worth about $232,000. AlphaCore Capital LLC increased its stake in Blackstone by 1.6% during the 3rd quarter. AlphaCore Capital LLC now owns 12,290 shares of the asset manager’s stock valued at $1,882,000 after buying an additional 189 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Blackstone by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after acquiring an additional 61,739 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction of $17,561,522.88. Following the transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 12.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John G. Finley sold 42,249 shares of Blackstone 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 in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup upped their target price on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Bank of America lifted their price objective on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, 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. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $157.63.

Blackstone Stock Up 2.6 %

BX opened at $199.05 on Friday. The business has a 50-day moving average of $165.86 and a 200-day moving average of $142.62. Blackstone Inc. has a fifty-two week low of $105.51 and a fifty-two week high of $199.95. The company has a market capitalization 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 debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share 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 the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Equities research analysts forecast that Blackstone Inc. will post 4.4 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a $0.86 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 1.73%. Blackstone’s dividend payout ratio (DPR) is currently 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.