Blackstone Inc. (NYSE:BX) Shares Bought by RKL Wealth Management LLC

RKL Wealth Management LLC increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,582 shares of the asset manager’s stock after purchasing an additional 540 shares during the period. RKL Wealth Management LLC’s holdings in Blackstone were worth $4,377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC lifted its position in Blackstone by 1.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after acquiring an additional 7,692 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Blackstone by 936.2% in the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock valued at $783,000 after purchasing an additional 5,383 shares during the period. Asahi Life Asset Management CO. LTD. acquired a new position in Blackstone in the 3rd quarter worth $557,000. Scientech Research LLC acquired a new stake in shares of Blackstone during the second quarter valued at about $1,364,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Blackstone by 11.3% in the second quarter. EverSource Wealth Advisors LLC now owns 54,159 shares of the asset manager’s stock worth $6,705,000 after acquiring an additional 5,479 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Performance

Shares of NYSE BX opened at $177.46 on Friday. Blackstone Inc. has a 12-month low of $96.15 and a 12-month high of $178.63. The company has a current ratio of 0.71, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The company has a market cap of $128.13 billion, a PE ratio of 60.98, a P/E/G ratio of 1.51 and a beta of 1.49. The stock has a 50 day simple moving average of $157.11 and a 200-day simple moving average of $137.98.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, equities research analysts forecast that Blackstone Inc. will post 4.39 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a dividend of $0.86 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 1.94%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Redburn Atlantic initiated coverage on shares of Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price on the stock. Barclays lifted their price target on Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. The Goldman Sachs Group lifted their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, UBS Group raised their price objective on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $155.38.

Insider Transactions at Blackstone

In other Blackstone news, 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Finley sold 42,249 shares of the company’s 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 completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.