Wealth Dimensions Group Ltd. Takes $227,000 Position in Blackstone Inc. (NYSE:BX)

Wealth Dimensions Group Ltd. acquired a new stake in Blackstone Inc. (NYSE:BX) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 1,484 shares of the asset manager’s stock, valued at approximately $227,000.

Other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC raised its position in Blackstone by 232.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,158 shares of the asset manager’s stock worth $151,000 after purchasing an additional 810 shares during the period. BOKF NA lifted its stake in shares of Blackstone by 1.8% during the 1st quarter. BOKF NA now owns 7,824 shares of the asset manager’s stock worth $1,025,000 after acquiring an additional 138 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Blackstone by 39.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,345,005 shares of the asset manager’s stock valued at $176,695,000 after acquiring an additional 383,827 shares during the period. Waverly Advisors LLC increased its stake in Blackstone by 322.9% in the first quarter. Waverly Advisors LLC now owns 20,039 shares of the asset manager’s stock worth $2,632,000 after purchasing an additional 15,300 shares during the period. Finally, Bayesian Capital Management LP purchased a new stake in shares of Blackstone during the first quarter valued at $2,995,000. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BX has been the subject of several research reports. Redburn Atlantic initiated coverage on shares of Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective for the company. Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a report on Wednesday, October 9th. Wells Fargo & Company increased their price target on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. BMO Capital Markets upped their price objective on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, TD Cowen boosted their price target on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $157.63.

Blackstone Stock Performance

Shares of Blackstone stock opened at $199.05 on Friday. Blackstone Inc. has a 52 week low of $105.51 and a 52 week high of $199.95. The company has a 50 day moving average price of $165.86 and a 200 day moving average price of $142.62. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $143.71 billion, a P/E ratio of 68.40, a PEG ratio of 1.65 and a beta of 1.49.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 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 company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Sell-side analysts expect that Blackstone Inc. will post 4.4 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were issued a $0.86 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio is 118.21%.

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction 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 sale, the insider now directly owns 387,137 shares of the company’s stock, 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 is available at this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction 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 completion of the transaction, the director now directly owns 799,749 shares of the company’s stock, 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 currently owned by corporate insiders.

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.