Biltmore Family Office LLC Purchases Shares of 1,517 Blackstone Inc. (NYSE:BX)

Biltmore Family Office LLC bought a new position in shares of Blackstone Inc. (NYSE:BX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,517 shares of the asset manager’s stock, valued at approximately $232,000.

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

Blackstone Stock Up 5.0 %

Shares of Blackstone stock opened at $194.21 on Friday. Blackstone Inc. has a 1-year low of $105.51 and a 1-year high of $194.64. The company has a market capitalization of $140.22 billion, a P/E ratio of 66.74, a PEG ratio of 1.57 and a beta of 1.49. The business’s fifty day moving average price is $164.90 and its two-hundred day moving average price is $141.94. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last issued its quarterly earnings results 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 analyst estimates of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, research analysts forecast that Blackstone Inc. will post 4.4 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 1.77%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 118.21%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BX. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a report on Wednesday, October 9th. Citigroup lifted their price target on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. increased their target price on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Bank of America upped their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, UBS Group boosted their target price 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. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average price target of $157.63.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of Blackstone 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 completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. 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 value of $17,561,522.88. Following the sale, the director now directly 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 position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Blackstone 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.