Schrum Private Wealth Management LLC Increases Position in Blackstone Inc. (NYSE:BX)

Schrum Private Wealth Management LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 31.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,732 shares of the asset manager’s stock after acquiring an additional 883 shares during the quarter. Schrum Private Wealth Management LLC’s holdings in Blackstone were worth $572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Portside Wealth Group LLC bought a new position in shares of Blackstone in the 3rd quarter worth approximately $201,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Blackstone by 1.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after purchasing an additional 7,692 shares during the last quarter. Blue Trust Inc. increased its position in shares of Blackstone by 936.2% during the 2nd 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 last quarter. Asahi Life Asset Management CO. LTD. bought a new position in Blackstone in the 3rd quarter worth $557,000. Finally, Scientech Research LLC bought a new position in shares of Blackstone in the second quarter worth approximately $1,364,000. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction that occurred 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 in the company, valued at approximately $68,112,883.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Baratta sold 116,448 shares of the firm’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 disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on BX. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research report on Wednesday, October 9th. TD Cowen raised their target price on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company increased their target price on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. BMO Capital Markets increased their price target on Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Finally, Citigroup lifted their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average price target of $157.63.

Blackstone Price Performance

Blackstone stock traded up $0.70 during midday trading on Wednesday, reaching $181.36. The company had a trading volume of 610,730 shares, compared to its average volume of 3,414,555. Blackstone Inc. has a 12-month low of $100.78 and a 12-month high of $183.96. The firm’s fifty day simple moving average is $158.78 and its 200-day simple moving average is $139.01. 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 company has a market capitalization of $130.94 billion, a P/E ratio of 62.12, a P/E/G ratio of 1.57 and a beta of 1.49.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating the consensus estimate of $0.91 by $0.10. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, equities analysts anticipate that Blackstone Inc. will post 4.39 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were given a dividend of $0.86 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.90%. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

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.