McIlrath & Eck LLC Acquires 62 Shares of Blackstone Inc. (NYSE:BX)

McIlrath & Eck LLC raised its holdings in Blackstone Inc. (NYSE:BX) by 6.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,019 shares of the asset manager’s stock after buying an additional 62 shares during the quarter. McIlrath & Eck LLC’s holdings in Blackstone were worth $156,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lantz Financial LLC boosted its holdings in Blackstone by 11.7% in the second quarter. Lantz Financial LLC now owns 2,762 shares of the asset manager’s stock worth $342,000 after acquiring an additional 290 shares in the last quarter. ORG Partners LLC boosted its stake in Blackstone by 10,827.3% in the 2nd quarter. ORG Partners LLC now owns 1,202 shares of the asset manager’s stock worth $147,000 after purchasing an additional 1,191 shares in the last quarter. Oak Ridge Investments LLC bought a new stake in Blackstone during the 2nd quarter valued at about $230,000. AdvisorNet Financial Inc lifted its stake in shares of Blackstone by 17.6% in the second quarter. AdvisorNet Financial Inc now owns 7,118 shares of the asset manager’s stock worth $881,000 after buying an additional 1,067 shares in the last quarter. Finally, Red Door Wealth Management LLC increased its position in shares of Blackstone by 2.3% during the second quarter. Red Door Wealth Management LLC now owns 19,340 shares of the asset manager’s stock valued at $2,394,000 after acquiring an additional 440 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of several recent analyst reports. Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Evercore ISI raised their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Barclays increased their price objective on shares of Blackstone from $174.00 to $199.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Cowen reiterated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $164.25.

Blackstone Trading Up 2.3 %

Shares of Blackstone stock opened at $189.56 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market cap of $136.86 billion, a price-to-earnings ratio of 65.14, a PEG ratio of 1.59 and a beta of 1.51. Blackstone Inc. has a twelve month low of $112.09 and a twelve month high of $200.96. The business has a 50-day moving average price of $173.07 and a 200-day moving average price of $147.64.

Blackstone (NYSE:BX) last issued 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 business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Equities research analysts anticipate that Blackstone Inc. will post 4.4 EPS for the current fiscal 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 $0.86 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s dividend payout ratio is 118.21%.

Insider Buying and Selling at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of Blackstone 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 in the company, valued at $120,610,146.69. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John G. Finley sold 42,249 shares of the company’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 transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.