Oppenheimer & Co. Inc. cut its stake in Blackstone Inc. (NYSE:BX - Free Report) by 9.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,786 shares of the asset manager's stock after selling 10,971 shares during the period. Oppenheimer & Co. Inc.'s holdings in Blackstone were worth $16,812,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Raleigh Capital Management Inc. grew its holdings in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager's stock valued at $39,000 after acquiring an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager's stock valued at $427,000 after purchasing an additional 62 shares during the period. Fidelis Capital Partners LLC grew its holdings in Blackstone by 2.7% during the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager's stock valued at $396,000 after purchasing an additional 62 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Blackstone by 0.5% during 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 during the period. Finally, Lindbrook Capital LLC grew its holdings in Blackstone by 1.1% during the third quarter. Lindbrook Capital LLC now owns 5,743 shares of the asset manager's stock valued at $879,000 after purchasing an additional 65 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.
Blackstone Trading Up 0.5 %
Shares of NYSE:BX traded up $0.90 during midday trading on Wednesday, hitting $181.56. 2,726,745 shares of the stock traded hands, compared to its average volume of 3,424,177. Blackstone Inc. has a one year low of $100.78 and a one year high of $183.96. The stock has a market capitalization of $131.09 billion, a PE ratio of 62.39, a P/E/G ratio of 1.55 and a beta of 1.49. The business's 50 day moving average is $158.78 and its two-hundred day moving average is $139.01. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.
Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion during 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%. As a group, research analysts forecast that Blackstone Inc. will post 4.39 earnings per share for the current year.
Blackstone Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Monday, October 28th. This is a boost from Blackstone's previous quarterly dividend of $0.82. Blackstone's dividend payout ratio is 118.21%.
Insiders Place Their Bets
In other news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on 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 sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the 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 transaction, the director now directly owns 799,749 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on BX. Piper Sandler lowered Blackstone from an "overweight" rating to a "neutral" rating and set a $149.00 price objective on the stock. in a research note on Wednesday, October 9th. BMO Capital Markets upped their target price on shares of Blackstone from $112.00 to $134.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. JPMorgan Chase & Co. upped their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Redburn Atlantic assumed coverage on Blackstone in a research note on Tuesday, August 27th. They issued a "neutral" rating and a $134.00 target price on the stock. Finally, Morgan Stanley upped their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Blackstone presently has a consensus rating of "Hold" and a consensus target price of $157.63.
Check Out Our Latest Research Report on BX
Blackstone Company Profile
(
Free Report)
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.
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