Blackstone Inc. (NYSE:BX) Shares Bought by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC boosted its position in Blackstone Inc. (NYSE:BX) by 26.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,626 shares of the asset manager’s stock after purchasing an additional 1,390 shares during the period. Revolve Wealth Partners LLC’s holdings in Blackstone were worth $1,015,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Veracity Capital LLC grew its holdings in Blackstone by 4.1% during the third quarter. Veracity Capital LLC now owns 3,301 shares of the asset manager’s stock worth $505,000 after acquiring an additional 130 shares during the period. AA Financial Advisors LLC acquired a new stake in Blackstone during the third quarter valued at approximately $318,000. Embree Financial Group increased its holdings in shares of Blackstone by 1.7% in the third quarter. Embree Financial Group now owns 61,295 shares of the asset manager’s stock valued at $9,386,000 after buying an additional 1,043 shares in the last quarter. Seamount Financial Group Inc. grew its holdings in shares of Blackstone by 1.7% in the 3rd quarter. Seamount Financial Group Inc. now owns 5,463 shares of the asset manager’s stock worth $837,000 after acquiring an additional 90 shares during the last quarter. Finally, ST Germain D J Co. Inc. lifted its holdings in shares of Blackstone by 1.2% during the third quarter. ST Germain D J Co. Inc. now owns 90,069 shares of the asset manager’s stock valued at $13,792,000 after purchasing an additional 1,053 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America boosted their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley boosted their target price on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Evercore ISI lifted their price target on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their price objective on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $152.41.

Insider Buying and Selling

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction 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. This 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 available at the SEC website. In other Blackstone news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Blackstone Stock Up 1.5 %

Blackstone stock opened at $172.36 on Friday. The company has a market capitalization of $123.18 billion, a P/E ratio of 60.90, a P/E/G ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $175.94. The firm’s fifty day simple moving average is $147.01 and its 200-day simple moving average is $133.27. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the firm earned $0.93 EPS. Blackstone’s quarterly revenue was up 166.9% on a year-over-year basis. Sell-side analysts forecast that Blackstone Inc. will post 4.46 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.00%. The ex-dividend date is Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is 115.90%.

About Blackstone

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.