AdvisorNet Financial Inc Has $2.19 Million Position in Blackstone Inc. (NYSE:BX)

AdvisorNet Financial Inc boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 57.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,694 shares of the asset manager’s stock after acquiring an additional 4,648 shares during the quarter. AdvisorNet Financial Inc’s holdings in Blackstone were worth $2,189,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Quest Partners LLC increased its position in Blackstone by 12,090.0% during the 2nd quarter. Quest Partners LLC now owns 1,219 shares of the asset manager’s stock valued at $151,000 after purchasing an additional 1,209 shares during the period. American Century Companies Inc. increased its position in shares of Blackstone by 3.5% during the second quarter. American Century Companies Inc. now owns 58,777 shares of the asset manager’s stock worth $7,277,000 after buying an additional 2,002 shares during the period. Dimensional Fund Advisors LP raised its stake in Blackstone by 12.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,254,342 shares of the asset manager’s stock worth $155,288,000 after buying an additional 142,026 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in Blackstone by 538.8% during the second quarter. Citizens Financial Group Inc. RI now owns 14,112 shares of the asset manager’s stock valued at $1,747,000 after acquiring an additional 11,903 shares during the last quarter. Finally, Wulff Hansen & CO. raised its position in shares of Blackstone by 12,192.7% in the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after acquiring an additional 7,281,128 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the 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 transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group raised their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group lifted their price objective 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. Barclays reduced their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $169.56.

Blackstone Stock Performance

NYSE BX opened at $169.27 on Wednesday. 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 fifty day moving average price of $180.70 and a 200-day moving average price of $157.59. Blackstone Inc. has a 1 year low of $114.88 and a 1 year high of $200.96. The firm has a market cap of $122.21 billion, a price-to-earnings ratio of 58.17, a PEG ratio of 1.63 and a beta of 1.53.

Blackstone (NYSE:BX) last posted 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 firm 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%. As a group, equities research analysts predict that Blackstone Inc. will post 4.43 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.03%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. Blackstone’s payout ratio is presently 118.21%.

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.