Platform Technology Partners Purchases 787 Shares of Blackstone Inc. (NYSE:BX)

Platform Technology Partners increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,981 shares of the asset manager’s stock after buying an additional 787 shares during the period. Blackstone comprises approximately 0.9% of Platform Technology Partners’ portfolio, making the stock its 25th largest position. Platform Technology Partners’ holdings in Blackstone were worth $2,907,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Blackstone during the second quarter worth $26,000. EdgeRock Capital LLC bought a new stake in shares of Blackstone during the 2nd quarter valued at about $27,000. West Financial Advisors LLC bought a new stake in Blackstone in the third quarter worth approximately $27,000. Bank & Trust Co bought a new position in shares of Blackstone during the 2nd quarter worth approximately $29,000. Finally, Ridgewood Investments LLC acquired a new position in shares of Blackstone during the 2nd quarter valued at $31,000. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on 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 sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on BX. Barclays lifted their price target on shares of Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Citigroup increased their price target on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Piper Sandler cut 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. Wells Fargo & Company upped their price objective on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, UBS Group upped their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $157.63.

Blackstone Price Performance

BX opened at $183.16 on Tuesday. The firm has a 50-day moving average of $157.93 and a 200 day moving average of $138.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. Blackstone Inc. has a fifty-two week low of $96.93 and a fifty-two week high of $183.96. The firm has a market cap of $132.24 billion, a P/E ratio of 62.94, a PEG ratio of 1.52 and a beta of 1.49.

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

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a $0.86 dividend. The ex-dividend date was Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.88%. Blackstone’s dividend payout ratio (DPR) is 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.