Proactive Wealth Strategies LLC Invests $2.87 Million in Blackstone Inc. (NYSE:BX)

Proactive Wealth Strategies LLC acquired a new position in Blackstone Inc. (NYSE:BX - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,747 shares of the asset manager's stock, valued at approximately $2,871,000. Blackstone accounts for approximately 1.6% of Proactive Wealth Strategies LLC's investment portfolio, making the stock its 16th biggest position.

Several other hedge funds also recently modified their holdings of BX. Raleigh Capital Management Inc. increased its holdings in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager's stock worth $39,000 after purchasing an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager's stock worth $427,000 after buying an additional 62 shares during the last quarter. Fidelis Capital Partners LLC increased its position in shares of Blackstone by 2.7% in the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager's stock valued at $396,000 after acquiring an additional 62 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in Blackstone by 0.5% in the third quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager's stock valued at $2,132,000 after purchasing an additional 64 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in shares of Blackstone by 1.1% in the 3rd quarter. Lindbrook Capital LLC now owns 5,743 shares of the asset manager's stock valued at $879,000 after buying an additional 65 shares during the last quarter. Institutional investors own 70.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Blackstone from $169.00 to $188.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Barclays upped their price target on shares of Blackstone from $155.00 to $174.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. TD Cowen increased their price objective on Blackstone from $133.00 to $149.00 and gave the stock a "hold" rating in a research report on Friday, October 18th. Citigroup boosted their price target on Blackstone from $157.00 to $170.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Finally, Bank of America upped their target price on Blackstone from $171.00 to $192.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Blackstone presently has a consensus rating of "Hold" and a consensus price target of $157.63.

Blackstone Stock Down 1.4 %

BX traded down $2.50 during mid-day trading on Tuesday, reaching $180.66. 2,937,421 shares of the stock were exchanged, compared to its average volume of 3,427,347. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. The company has a 50 day moving average price of $157.93 and a two-hundred day moving average price of $138.60. Blackstone Inc. has a 1 year low of $96.93 and a 1 year high of $183.96. The stock has a market capitalization of $130.44 billion, a PE ratio of 62.94, a price-to-earnings-growth ratio of 1.52 and a beta of 1.49.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The company had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.37 billion. As a group, research analysts anticipate that Blackstone Inc. will post 4.39 EPS for the current year.

Blackstone Increases Dividend

The business 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. The ex-dividend date was Monday, October 28th. This is a boost from Blackstone's previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 1.90%. Blackstone's payout ratio is 118.21%.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John G. Finley sold 42,249 shares of the business'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 transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 in the company, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

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.