Blackstone Inc. (NYSE:BX) Position Increased by Seelaus Asset Management LLC

Seelaus Asset Management LLC lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 34.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,754 shares of the asset manager’s stock after acquiring an additional 2,750 shares during the quarter. Blackstone accounts for 1.5% of Seelaus Asset Management LLC’s portfolio, making the stock its 11th largest holding. Seelaus Asset Management LLC’s holdings in Blackstone were worth $1,647,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. West Financial Advisors LLC acquired a new position in Blackstone in the 3rd quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Blackstone during the second quarter valued at $26,000. EdgeRock Capital LLC purchased a new stake in Blackstone in the 2nd quarter worth about $27,000. Bank & Trust Co purchased a new position in Blackstone during the 2nd quarter valued at about $29,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Blackstone during the second quarter worth approximately $31,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Citigroup increased their target price on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. TD Cowen boosted their target price on Blackstone from $133.00 to $149.00 and gave the company 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. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, UBS Group increased their price target on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Blackstone currently has an average rating of “Hold” and an average target price of $157.63.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the business’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 owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 12.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 transaction, the insider now directly owns 387,137 shares of the company’s stock, 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. 1.00% of the stock is owned by insiders.

Blackstone Trading Up 0.1 %

Shares of BX stock opened at $181.36 on Friday. The firm has a market capitalization of $130.94 billion, a P/E ratio of 62.32, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49. Blackstone Inc. has a 1 year low of $102.79 and a 1 year high of $184.34. The firm’s fifty day simple moving average is $161.40 and its 200 day simple moving average is $140.02. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. As a group, sell-side analysts predict that Blackstone Inc. will post 4.39 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a dividend of $0.86 per share. 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 an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is currently 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.