Biltmore Family Office LLC Purchases Shares of 1,517 Blackstone Inc. (NYSE:BX)

Biltmore Family Office LLC bought a new stake in Blackstone Inc. (NYSE:BX) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,517 shares of the asset manager’s stock, valued at approximately $232,000.

A number of other hedge funds also recently bought and sold shares of BX. Sather Financial Group Inc lifted its stake in Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after acquiring an additional 4,050 shares during the last quarter. Portside Wealth Group LLC purchased a new stake in Blackstone during the 3rd quarter worth about $201,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Blackstone by 1.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after acquiring an additional 7,692 shares during the last quarter. Aljian Capital Management LLC purchased a new stake in Blackstone during the third quarter worth approximately $1,951,000. Finally, Blue Trust Inc. increased its stake in Blackstone by 936.2% in the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock valued at $783,000 after purchasing an additional 5,383 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Up 5.0 %

BX stock opened at $194.21 on Friday. Blackstone Inc. has a 52 week low of $105.51 and a 52 week high of $194.64. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market cap of $140.22 billion, a P/E ratio of 66.74, a P/E/G ratio of 1.57 and a beta of 1.49. The company’s 50-day moving average price is $164.90 and its 200 day moving average price is $141.94.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, research analysts expect that Blackstone Inc. will post 4.4 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is 118.21%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BX. Wells Fargo & Company increased their target price on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Redburn Atlantic initiated coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price for the company. Morgan Stanley lifted their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Citigroup raised 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. Finally, JPMorgan Chase & Co. increased their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus price target of $157.63.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’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 completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Baratta sold 116,448 shares of Blackstone 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 completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Company 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.