Blackstone Inc. (NYSE:BX) Stock Holdings Lifted by Tradition Wealth Management LLC

Tradition Wealth Management LLC lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 2.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,173 shares of the asset manager’s stock after purchasing an additional 234 shares during the period. Tradition Wealth Management LLC’s holdings in Blackstone were worth $1,405,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Blackstone by 19.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 2,302 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 371 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Blackstone during the 2nd quarter valued at about $26,000. Bank & Trust Co purchased a new stake in shares of Blackstone in the second quarter worth approximately $29,000. Mather Group LLC. grew its position in Blackstone by 44.3% during the second quarter. Mather Group LLC. now owns 10,264 shares of the asset manager’s stock valued at $1,348,000 after purchasing an additional 3,151 shares in the last quarter. Finally, Fragasso Financial Advisors Inc lifted its position in Blackstone by 2.7% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 3,344 shares of the asset manager’s stock worth $414,000 after buying an additional 89 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling

In other 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 transaction, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. TD Cowen upped their price target on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. BMO Capital Markets raised their price objective on shares of Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Morgan Stanley increased their price target on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, Evercore ISI increased their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Thirteen investment 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 currently has an average rating of “Hold” and an average target price of $157.63.

Blackstone Trading Up 1.1 %

Shares of BX opened at $191.09 on Monday. Blackstone Inc. has a 12-month low of $110.77 and a 12-month high of $200.96. The firm has a market capitalization of $137.97 billion, a price-to-earnings ratio of 65.67, a P/E/G ratio of 1.63 and a beta of 1.49. The stock’s 50-day moving average price is $169.29 and its 200 day moving average price is $145.09. 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 (NYSE:BX) last posted its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. As a group, research analysts predict that Blackstone Inc. will post 4.4 earnings per share 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 paid a $0.86 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio is currently 118.21%.

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.