Zacks Investment Management Has $252,000 Holdings in Blackstone Inc. (NYSE:BX)

Zacks Investment Management reduced its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 65.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,645 shares of the asset manager's stock after selling 3,179 shares during the quarter. Zacks Investment Management's holdings in Blackstone were worth $252,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in BX. Sather Financial Group Inc lifted its holdings in shares of Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager's stock valued at $926,000 after buying an additional 4,050 shares during the last quarter. Portside Wealth Group LLC bought a new stake in Blackstone in the third quarter worth approximately $201,000. Aljian Capital Management LLC bought a new position in shares of Blackstone during the 3rd quarter valued at $1,951,000. Icon Wealth Advisors LLC increased its position in Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager's stock worth $2,901,000 after buying an additional 18,117 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Blackstone by 3.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 1,169,526 shares of the asset manager's stock valued at $179,089,000 after acquiring an additional 36,343 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BX shares. Piper Sandler downgraded Blackstone from an "overweight" rating to a "neutral" rating and set a $149.00 price target on the stock. in a report on Wednesday, October 9th. Evercore ISI upped their target price on shares of Blackstone from $148.00 to $155.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Redburn Atlantic started coverage on shares of Blackstone in a research note on Tuesday, August 27th. They set a "neutral" rating and a $134.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $172.00 to $182.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company cut Blackstone from an "overweight" rating to an "equal weight" rating and raised their price target for the company from $188.00 to $195.00 in a report on Thursday. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $164.69.

Blackstone Stock Down 1.1 %

Shares of BX stock traded down $2.11 during trading hours on Thursday, hitting $190.30. 2,814,013 shares of the company were exchanged, compared to its average volume of 3,395,677. The company has a market capitalization of $137.40 billion, a PE ratio of 66.14, a PEG ratio of 1.59 and a beta of 1.51. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 52 week low of $112.44 and a 52 week high of $200.96. The business has a 50 day moving average of $174.63 and a two-hundred day moving average of $148.41.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. The company had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. Analysts anticipate that Blackstone Inc. will post 4.4 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a dividend of $0.86 per share. This is a boost from Blackstone's previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 1.81%. Blackstone's dividend payout ratio is presently 118.21%.

Insider Buying and Selling at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated 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 transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction that occurred on 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 transaction, the insider now owns 387,137 shares of the company's stock, valued at $68,112,883.78. This 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.

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.