Intellectus Partners LLC Grows Holdings in Blackstone Inc. (NYSE:BX)

Intellectus Partners LLC increased its position in Blackstone Inc. (NYSE:BX) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,414 shares of the asset manager’s stock after buying an additional 857 shares during the period. Intellectus Partners LLC’s holdings in Blackstone were worth $2,667,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Raleigh Capital Management Inc. lifted its stake in Blackstone by 32.1% in 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 in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Blackstone by 2.3% in 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 in the last quarter. Fidelis Capital Partners LLC grew its holdings in Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after buying an additional 62 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Blackstone by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock valued at $2,132,000 after acquiring an additional 64 shares during the last quarter. Finally, Lindbrook Capital LLC increased its position in Blackstone by 1.1% in the third quarter. Lindbrook Capital LLC now owns 5,743 shares of the asset manager’s stock worth $879,000 after purchasing an additional 65 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Insider Activity at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 12.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated 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 in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on BX. Deutsche Bank Aktiengesellschaft increased their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday. Redburn Atlantic assumed coverage on Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target on the stock. TD Cowen boosted their price objective on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday, October 18th. BMO Capital Markets lifted their target price 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, The Goldman Sachs Group lifted their price objective on shares of Blackstone from $135.00 to $150.00 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $157.63.

Blackstone Stock Performance

Shares of Blackstone stock opened at $181.21 on Friday. 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 52 week low of $102.59 and a 52 week high of $184.34. The firm has a market capitalization of $130.83 billion, a P/E ratio of 62.27, a PEG ratio of 1.55 and a beta of 1.49. The company has a 50 day moving average price of $159.65 and a 200 day moving average price of $139.31.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (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 firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Sell-side analysts expect that Blackstone Inc. will post 4.39 EPS for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were issued a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is 118.21%.

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.