Birchcreek Wealth Management LLC Buys 91 Shares of Blackstone Inc. (NYSE:BX)

Birchcreek Wealth Management LLC increased its stake in Blackstone Inc. (NYSE:BX) by 5.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,770 shares of the asset manager’s stock after purchasing an additional 91 shares during the period. Birchcreek Wealth Management LLC’s holdings in Blackstone were worth $271,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Blackstone in the 2nd quarter valued at $26,000. EdgeRock Capital LLC bought a new stake in Blackstone during the 2nd quarter worth about $27,000. West Financial Advisors LLC bought a new stake in Blackstone during the 3rd quarter worth about $27,000. Bank & Trust Co bought a new stake in shares of Blackstone in the 2nd quarter valued at about $29,000. Finally, Ridgewood Investments LLC acquired a new position in Blackstone in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the business’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 transaction of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 42,249 shares of the business’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 transaction, 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 position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on BX. Morgan Stanley upped their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Evercore ISI increased their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. The Goldman Sachs Group increased their price target 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. Citigroup increased their price target on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company increased their price target on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $157.63.

Blackstone Stock Up 0.1 %

NYSE:BX traded up $0.17 during trading hours on Friday, reaching $181.38. The company had a trading volume of 15,779 shares, compared to its average volume of 3,404,290. The firm has a market cap of $130.96 billion, a price-to-earnings ratio of 62.27, a P/E/G ratio of 1.55 and a beta of 1.49. The business’s 50-day simple moving average is $159.65 and its two-hundred day simple moving average is $139.31. Blackstone Inc. has a twelve month low of $102.79 and a twelve month high of $184.34. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion during 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%. On average, equities analysts expect that Blackstone Inc. will post 4.39 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were given a dividend of $0.86 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

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.