Investmark Advisory Group LLC Purchases 60 Shares of Blackstone Inc. (NYSE:BX)

Investmark Advisory Group LLC boosted its position in Blackstone Inc. (NYSE:BX) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,608 shares of the asset manager’s stock after acquiring an additional 60 shares during the period. Investmark Advisory Group LLC’s holdings in Blackstone were worth $399,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Sather Financial Group Inc raised its stake in shares of 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 purchasing an additional 4,050 shares during the last quarter. Portside Wealth Group LLC purchased a new position in Blackstone in the third quarter worth about $201,000. Wealth Enhancement Advisory Services LLC raised its holdings in Blackstone by 1.8% during the second 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 period. Aljian Capital Management LLC purchased a new stake in Blackstone in the third quarter worth $1,951,000. Finally, Icon Wealth Advisors LLC lifted its stake in shares of Blackstone by 2,185.4% during the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after buying an additional 18,117 shares during the period. 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 the stock in a transaction that occurred 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 sale, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 transaction, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Blackstone Trading Down 0.5 %

Shares of BX stock opened at $186.07 on Tuesday. The stock has a 50 day simple moving average of $169.29 and a 200-day simple moving average of $145.09. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $134.34 billion, a price-to-earnings ratio of 64.28, a PEG ratio of 1.63 and a beta of 1.51. Blackstone Inc. has a 1-year low of $111.05 and a 1-year high of $200.96.

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

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were given a dividend of $0.86 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.85%. The ex-dividend date was Monday, October 28th. Blackstone’s payout ratio is currently 118.21%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BX. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a report on Wednesday, October 9th. Evercore ISI increased their price objective on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Morgan Stanley lifted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Barclays lifted their target price on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, UBS Group increased their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $157.63.

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.