Oak Harbor Wealth Partners LLC Decreases Stock Holdings in Blackstone Inc. (NYSE:BX)

Oak Harbor Wealth Partners LLC decreased its position in shares of Blackstone Inc. (NYSE:BX) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,479 shares of the asset manager’s stock after selling 100 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Blackstone were worth $839,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of BX. West Financial Advisors LLC bought a new position in shares of Blackstone in the third quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone in the second quarter worth about $26,000. EdgeRock Capital LLC bought a new position in Blackstone during the 2nd quarter worth about $27,000. Bank & Trust Co bought a new position in Blackstone during the 2nd quarter worth about $29,000. Finally, Ridgewood Investments LLC bought a new position in Blackstone during the 2nd quarter worth about $31,000. Institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 $120,610,146.69. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. 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 report on Monday, October 14th. UBS Group increased their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Citigroup increased their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective for the company. in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus target price of $157.63.

Blackstone Price Performance

Shares of NYSE BX opened at $181.21 on Friday. The stock has a market capitalization of $130.83 billion, a price-to-earnings ratio of 62.27, a PEG ratio of 1.55 and a beta of 1.49. Blackstone Inc. has a 12 month low of $102.59 and a 12 month high of $184.34. The firm’s 50 day simple moving average is $159.65 and its 200-day simple moving average is $139.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $2.37 billion. Analysts expect that Blackstone Inc. will post 4.39 EPS for the current year.

Blackstone Increases Dividend

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