AA Financial Advisors LLC Invests $318,000 in Blackstone Inc. (NYSE:BX)

AA Financial Advisors LLC bought a new position in shares of Blackstone Inc. (NYSE:BX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,078 shares of the asset manager’s stock, valued at approximately $318,000.

Other hedge funds have also modified their holdings of the company. West Financial Advisors LLC acquired a new stake in shares of Blackstone during the third quarter worth $27,000. Chilton Capital Management LLC acquired a new stake in shares of Blackstone during the first quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Blackstone during the second quarter worth $26,000. EdgeRock Capital LLC acquired a new stake in shares of Blackstone during the second quarter worth $27,000. Finally, Bank & Trust Co acquired a new stake in shares of Blackstone during the second quarter worth $29,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BX. Morgan Stanley increased their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Barclays raised their target price on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday. Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a report on Wednesday, October 9th. Redburn Atlantic started coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price for the company. Finally, TD Cowen raised their target price on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $155.38.

Blackstone Trading Up 1.5 %

Blackstone stock opened at $172.36 on Monday. The stock has a market cap of $123.18 billion, a PE ratio of 60.90, a P/E/G ratio of 1.24 and a beta of 1.51. The stock has a 50-day moving average price of $147.01 and a 200 day moving average price of $133.31. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $175.94. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 EPS. Equities research analysts predict that Blackstone Inc. will post 4.46 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a $0.86 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 2.00%. Blackstone’s payout ratio is 121.55%.

Insider Buying and Selling at Blackstone

In other Blackstone news, 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 $120,610,146.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, 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 transaction, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

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.