Alternative Investment

Patriot Financial Group Insurance Agency LLC Has $281,000 Stake in Blackstone Inc. (NYSE:BX)

Patriot Financial Group Insurance Agency LLC raised its position in Blackstone Inc. (NYSE:BXGet Rating) by 148.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 3,355 shares of the asset manager’s stock after purchasing an additional 2,002 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Blackstone were worth $281,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of BX. Destiny Wealth Partners LLC acquired a new position in shares of Blackstone during the 2nd quarter valued at $25,000. SJS Investment Consulting Inc. acquired a new position in shares of Blackstone during the 3rd quarter valued at $26,000. Trust Co. of Vermont increased its stake in Blackstone by 133.3% during the 3rd quarter. Trust Co. of Vermont now owns 350 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 200 shares in the last quarter. First Financial Corp IN increased its stake in Blackstone by 204.9% during the 3rd quarter. First Financial Corp IN now owns 372 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 250 shares in the last quarter. Finally, Tilia Fiduciary Partners Inc. bought a new stake in Blackstone during the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 62.39% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 12,154,671 shares of the company’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $7.46, for a total transaction of $90,673,845.66. Following the sale, the insider now directly owns 295 shares of the company’s stock, valued at $2,200.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Holdings I/Ii Gp L. Blackstone sold 6,341,568 shares of the stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $8.00, for a total value of $50,732,544.00. Following the sale, the insider now directly owns 83,109 shares of the company’s stock, valued at $664,872. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Holdings L.P. Blackstone III sold 12,154,671 shares of the stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $7.46, for a total transaction of $90,673,845.66. Following the completion of the sale, the insider now directly owns 295 shares in the company, valued at $2,200.70. The disclosure for this sale can be found here. Insiders have sold a total of 19,536,085 shares of company stock valued at $180,412,256 over the last three months. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on BX. JPMorgan Chase & Co. began coverage on shares of Blackstone in a research note on Tuesday, October 11th. They set a “neutral” rating and a $102.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $127.00 to $128.00 and gave the company a “buy” rating in a research note on Tuesday, November 15th. Credit Suisse Group lowered shares of Blackstone from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $85.50 to $67.50 in a research note on Tuesday, November 22nd. Bank of America reiterated a “buy” rating and issued a $125.00 target price on shares of Blackstone in a research note on Thursday, October 6th. Finally, Morgan Stanley reduced their target price on shares of Blackstone from $121.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, October 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $109.17.

Blackstone Price Performance

BX opened at $85.04 on Friday. The firm has a market cap of $59.68 billion, a P/E ratio of 24.02, a PEG ratio of 2.64 and a beta of 1.47. The firm has a 50-day moving average of $83.61 and a 200 day moving average of $90.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.85 and a current ratio of 0.85. Blackstone Inc. has a fifty-two week low of $71.72 and a fifty-two week high of $138.95.

Blackstone (NYSE:BXGet Rating) last released its quarterly earnings data on Thursday, October 20th. The asset manager reported $1.06 EPS for the quarter, beating the consensus estimate of $0.96 by $0.10. The business had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.52 billion. Blackstone had a net margin of 20.58% and a return on equity of 20.75%. The company’s revenue was down 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 earnings per share. On average, research analysts expect that Blackstone Inc. will post 5.1 EPS for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Monday, October 31st were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Friday, October 28th. Blackstone’s dividend payout ratio (DPR) is presently 101.70%.

Blackstone Company Profile

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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.

See Also

Want to see what other hedge funds are holding BX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackstone Inc. (NYSE:BXGet Rating).

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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