Quent Capital LLC Increases Stock Holdings in Blackstone Inc. (NYSE:BX)

Quent Capital LLC grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 42.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,579 shares of the asset manager’s stock after buying an additional 471 shares during the quarter. Quent Capital LLC’s holdings in Blackstone were worth $242,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Exencial Wealth Advisors LLC increased its stake in Blackstone by 5.8% in the 4th quarter. Exencial Wealth Advisors LLC now owns 3,510 shares of the asset manager’s stock worth $460,000 after buying an additional 193 shares during the period. Envestnet Asset Management Inc. raised its position in Blackstone by 2.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 635,026 shares of the asset manager’s stock valued at $83,138,000 after purchasing an additional 14,435 shares in the last quarter. Morningstar Investment Services LLC grew its position in shares of Blackstone by 110.2% during the 4th quarter. Morningstar Investment Services LLC now owns 6,062 shares of the asset manager’s stock worth $807,000 after buying an additional 3,178 shares in the last quarter. Azimuth Capital Investment Management LLC raised its holdings in shares of Blackstone by 4.4% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 7,662 shares of the asset manager’s stock valued at $1,003,000 after acquiring an additional 322 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in Blackstone in the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In related news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction 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 sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the 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 transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The trade was a 0.00 % 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 Trading Up 0.5 %

Shares of NYSE:BX opened at $151.92 on Friday. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $161.25. The business has a 50-day moving average price of $142.63 and a 200-day moving average price of $131.39. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The stock has a market cap of $108.57 billion, a price-to-earnings ratio of 53.68, a PEG ratio of 1.34 and a beta of 1.51.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the company earned $0.93 EPS. The firm’s revenue was up 166.9% compared to the same quarter last year. Equities analysts predict that Blackstone Inc. will post 4.57 EPS for the current year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s dividend payout ratio is currently 115.90%.

Analyst Ratings Changes

Several brokerages have recently weighed in on BX. Barclays upped their price target on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Piper Sandler increased their target price on Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Bank of America upped their price objective on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. The Goldman Sachs Group boosted their target price on shares of Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, TD Cowen raised their price target on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $131.17.

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.