Blackstone Inc. (NYSE:BX) Shares Acquired by Truvestments Capital LLC

Truvestments Capital LLC lifted its stake in Blackstone Inc. (NYSE:BX) by 20.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,604 shares of the asset manager’s stock after purchasing an additional 441 shares during the period. Truvestments Capital LLC’s holdings in Blackstone were worth $399,000 at the end of the most recent quarter.

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

Blackstone Trading Down 3.0 %

Blackstone stock opened at $193.12 on Tuesday. Blackstone Inc. has a 52 week low of $105.51 and a 52 week high of $200.96. The stock has a 50-day moving average price of $166.63 and a 200 day moving average price of $143.28. The stock has a market cap of $139.43 billion, a PE ratio of 66.36, a P/E/G ratio of 1.69 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 quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating 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. Equities research analysts predict that Blackstone Inc. will post 4.4 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were given a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 1.78%. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Insider Buying and Selling

In related news, 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 value of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was 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. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BX has been the topic of several recent analyst reports. UBS Group increased their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company increased their price target on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. The Goldman Sachs Group upped their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Redburn Atlantic began coverage on shares of Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target on the stock. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $157.63.

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.