Horizon Kinetics Asset Management LLC Purchases 23,690 Shares of Blackstone Inc. (NYSE:BX)

Horizon Kinetics Asset Management LLC grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 251.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 33,100 shares of the asset manager’s stock after acquiring an additional 23,690 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Blackstone were worth $5,069,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BX. West Financial Advisors LLC bought a new position in shares of Blackstone during the 3rd quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Blackstone during the 2nd quarter worth about $26,000. EdgeRock Capital LLC purchased a new stake in Blackstone in the 2nd quarter worth about $27,000. Bank & Trust Co bought a new position in shares of Blackstone during the second quarter valued at approximately $29,000. Finally, Ridgewood Investments LLC bought a new position in Blackstone in the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 1.3 %

NYSE:BX opened at $201.65 on Monday. Blackstone Inc. has a twelve month low of $105.51 and a twelve month high of $201.65. The company’s 50 day moving average is $165.86 and its two-hundred day moving average is $142.79. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market cap of $145.59 billion, a PE ratio of 68.40, a P/E/G ratio of 1.69 and a beta of 1.49.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. Analysts anticipate that Blackstone Inc. will post 4.4 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a $0.86 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 1.71%. Blackstone’s payout ratio is presently 118.21%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Evercore ISI upped their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their price target on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Barclays lifted their target price on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Bank of America upped their price objective on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Redburn Atlantic began coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target for the company. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $157.63.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated 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 sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 12.71 % 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.

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.