Prospera Financial Services Inc Has $36.39 Million Stock Position in Blackstone Inc. (NYSE:BX)

Prospera Financial Services Inc cut its holdings in Blackstone Inc. (NYSE:BX - Free Report) by 2.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 237,639 shares of the asset manager's stock after selling 7,183 shares during the quarter. Blackstone makes up 0.9% of Prospera Financial Services Inc's portfolio, making the stock its 14th largest position. Prospera Financial Services Inc's holdings in Blackstone were worth $36,391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raleigh Capital Management Inc. boosted its holdings in 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 during the last quarter. Capital Advisors Ltd. LLC boosted 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 worth $427,000 after buying an additional 62 shares during the last quarter. Fidelis Capital Partners LLC boosted 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 worth $396,000 after buying an additional 62 shares during the last quarter. Harbor Capital Advisors Inc. boosted 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 worth $2,132,000 after buying an additional 64 shares during the last quarter. Finally, Lindbrook Capital LLC boosted 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 worth $879,000 after buying an additional 65 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BX has been the topic of a number of recent analyst reports. Evercore ISI raised their target price on Blackstone from $148.00 to $155.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Morgan Stanley lifted their price objective on Blackstone from $164.00 to $177.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on Blackstone from $169.00 to $188.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Barclays lifted their price objective on Blackstone from $155.00 to $174.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Finally, Piper Sandler lowered Blackstone from an "overweight" rating to a "neutral" rating and set a $149.00 target price on the stock. in a research report on Wednesday, October 9th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Blackstone has an average rating of "Hold" and a consensus target price of $157.63.

Blackstone Stock Performance

Shares of NYSE BX traded up $2.95 during midday trading on Tuesday, hitting $185.96. 1,166,299 shares of the company's stock were exchanged, compared to its average volume of 3,401,250. 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 Inc. has a 12 month low of $104.39 and a 12 month high of $186.32. The company's 50 day moving average price is $162.26 and its 200 day moving average price is $140.80. The firm has a market capitalization of $134.26 billion, a PE ratio of 62.90, a price-to-earnings-growth ratio of 1.54 and a beta of 1.49.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 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 company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. As a group, analysts predict that Blackstone Inc. will post 4.39 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. Stockholders of record on Monday, October 28th were paid a dividend of $0.86 per share. This is an increase from Blackstone's previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Monday, October 28th. Blackstone's payout ratio is currently 118.21%.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the business's stock in a transaction 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 completion of the sale, the director now directly owns 799,749 shares in the company, valued at $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 is available through the SEC website. Also, insider John G. Finley sold 42,249 shares of the business's stock in a transaction on 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 sale, the insider now owns 387,137 shares of the company's stock, valued at $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. 1.00% of the stock is currently 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.