Compass Ion Advisors LLC Has $3.95 Million Stake in Blackstone Inc. (NYSE:BX)

Compass Ion Advisors LLC boosted its stake in Blackstone Inc. (NYSE:BX) by 1.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 25,767 shares of the asset manager’s stock after buying an additional 336 shares during the quarter. Compass Ion Advisors LLC’s holdings in Blackstone were worth $3,946,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BX. Trust Co. of Vermont increased its position in shares of Blackstone by 3.1% during the 3rd quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock valued at $343,000 after purchasing an additional 67 shares during the last quarter. CVA Family Office LLC lifted its stake in shares of Blackstone by 6.4% during the 3rd quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock valued at $187,000 after buying an additional 73 shares in the last quarter. Moseley Investment Management Inc. lifted its position in shares of Blackstone by 0.7% during the second quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock worth $1,391,000 after acquiring an additional 74 shares in the last quarter. Patrick M Sweeney & Associates Inc. grew its holdings in Blackstone by 0.6% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after buying an additional 80 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Blackstone by 0.6% in the second quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock valued at $1,686,000 after acquiring an additional 80 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In related news, Director Joseph Baratta sold 116,448 shares of Blackstone 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 sale, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Baratta sold 116,448 shares of the 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 in the company, valued at $120,610,146.69. This trade represents a 0.00 % 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.

Wall Street Analyst Weigh In

Several research analysts have commented on BX shares. Citigroup raised their price target on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday. The Goldman Sachs Group raised their price target on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday. Barclays boosted their price objective on Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday. Morgan Stanley boosted 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, Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average target price of $152.41.

Blackstone Trading Up 1.5 %

NYSE:BX traded up $2.63 during mid-day trading on Friday, reaching $172.36. 5,749,146 shares of the company’s stock traded hands, compared to its average volume of 3,452,708. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $175.94. The firm has a market capitalization of $123.18 billion, a price-to-earnings ratio of 60.90, a PEG ratio of 1.24 and a beta of 1.51. The company has a 50 day moving average price of $147.01 and a 200-day moving average price of $133.27.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the firm earned $0.93 EPS. The business’s revenue was up 166.9% on a year-over-year basis. On average, sell-side analysts predict that Blackstone Inc. will post 4.46 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a $0.86 dividend. The ex-dividend date is Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 2.00%. Blackstone’s dividend payout ratio (DPR) is 115.90%.

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.