1,565 Shares in Blackstone Inc. (NYSE:BX) Bought by Princeton Capital Management LLC

Princeton Capital Management LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,565 shares of the asset manager’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors have also modified their holdings of BX. West Financial Advisors LLC acquired a new position in Blackstone during the third quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone during the second quarter worth $26,000. EdgeRock Capital LLC acquired a new position in Blackstone during the second quarter worth $27,000. Bank & Trust Co acquired a new stake in shares of Blackstone in the second quarter valued at about $29,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Blackstone in the second quarter valued at about $31,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BX shares. TD Cowen raised their price target on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Redburn Atlantic started coverage on Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target on the stock. Morgan Stanley raised their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Evercore ISI increased their target price on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group increased their target price on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus target price of $157.63.

Blackstone Stock Up 0.9 %

Shares of BX opened at $183.05 on Tuesday. Blackstone Inc. has a 12 month low of $104.39 and a 12 month high of $184.34. The firm’s 50 day moving average is $162.26 and its 200-day moving average is $140.80. The stock has a market capitalization of $132.16 billion, a PE ratio of 62.90, a P/E/G ratio of 1.54 and a beta of 1.49. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Equities research analysts forecast that Blackstone Inc. will post 4.39 EPS for the current 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 given a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 1.88%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred 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 owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were 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 $68,112,883.78. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.