Wilmington Savings Fund Society FSB Purchases Shares of 29,391 Blackstone Inc. (NYSE:BX)

Wilmington Savings Fund Society FSB purchased a new stake in Blackstone Inc. (NYSE:BX - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 29,391 shares of the asset manager's stock, valued at approximately $4,501,000.

A number of other large investors have also modified their holdings of the business. Glen Eagle Advisors LLC grew its position in Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager's stock worth $498,000 after purchasing an additional 59 shares during the period. Investmark Advisory Group LLC lifted its holdings in Blackstone by 2.4% in the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager's stock valued at $399,000 after acquiring an additional 60 shares during the period. Raleigh Capital Management Inc. grew its stake in shares of 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 during the period. Capital Advisors Ltd. LLC increased its holdings 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 valued at $427,000 after purchasing an additional 62 shares in the last quarter. Finally, 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 in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Analyst Ratings Changes

BX has been the topic of several research analyst reports. Citigroup lifted their price objective on Blackstone from $157.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. TD Cowen raised shares of Blackstone from a "hold" rating to a "buy" rating and upped their price objective for the company from $149.00 to $230.00 in a report on Monday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a "buy" rating in a report on Monday, November 11th. Evercore ISI lifted their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Finally, BMO Capital Markets lifted their price objective on Blackstone from $112.00 to $134.00 and gave the company a "market perform" rating in a research note on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $164.69.

Blackstone Trading Down 1.0 %

BX stock traded down $1.95 during midday trading on Friday, hitting $188.35. The stock had a trading volume of 1,522,788 shares, compared to its average volume of 3,387,691. Blackstone Inc. has a 12-month low of $114.88 and a 12-month high of $200.96. The company's 50-day moving average price is $175.41 and its 200 day moving average price is $148.70. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $135.99 billion, a PE ratio of 65.39, a price-to-earnings-growth ratio of 1.63 and a beta of 1.51.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The firm had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.37 billion. On average, equities research analysts predict that Blackstone Inc. will post 4.43 earnings per share for the current fiscal 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 paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Monday, October 28th. This is a positive change from Blackstone's previous quarterly dividend of $0.82. Blackstone's dividend payout ratio (DPR) is 118.21%.

Insiders Place Their Bets

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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Baratta sold 116,448 shares of the company'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 transaction, the director now owns 799,749 shares of the company's stock, valued at approximately $120,610,146.69. The trade was a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

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.