Cumberland Partners Ltd Purchases New Shares in Blackstone Inc. (NYSE:BX)

Cumberland Partners Ltd purchased a new position in Blackstone Inc. (NYSE:BX - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,000 shares of the asset manager's stock, valued at approximately $1,531,000.

Other institutional investors have also recently added to or reduced their stakes in the company. West Financial Advisors LLC bought a new stake in Blackstone in the third quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Blackstone during the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC bought a new position in shares of Blackstone in the second quarter worth $27,000. Bank & Trust Co bought a new position in shares of Blackstone during the second quarter worth about $29,000. Finally, Ridgewood Investments LLC purchased a new position in Blackstone in the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Analysts Set New Price Targets

BX has been the topic of several recent analyst reports. Morgan Stanley lifted their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Bank of America increased 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. TD Cowen raised their target price on Blackstone from $133.00 to $149.00 and gave the company a "hold" rating in a research note on Friday, October 18th. Citigroup raised their price objective on Blackstone from $157.00 to $170.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Finally, UBS Group boosted their target price on Blackstone from $140.00 to $160.00 and gave the company a "neutral" rating in a research note on Wednesday, October 16th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $157.63.

Blackstone Stock Down 1.3 %

NYSE:BX traded down $2.38 on Tuesday, hitting $180.78. The stock had a trading volume of 2,939,621 shares, compared to its average volume of 3,427,348. Blackstone Inc. has a 1 year low of $96.93 and a 1 year high of $183.96. 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 stock has a market cap of $130.52 billion, a P/E ratio of 62.94, a price-to-earnings-growth ratio of 1.52 and a beta of 1.49. The firm's fifty day simple moving average is $157.93 and its two-hundred day simple moving average is $138.60.

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

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders 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 was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 1.90%. Blackstone's payout ratio is presently 118.21%.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. 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 through this link. In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph Baratta sold 116,448 shares of the company's 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 completion of the transaction, the director now owns 799,749 shares of the company's stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.