Blackstone Inc. (NYSE:BX) Shares Acquired by Enterprise Bank & Trust Co

Enterprise Bank & Trust Co raised its holdings in Blackstone Inc. (NYSE:BX) by 11.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,201 shares of the asset manager’s stock after acquiring an additional 421 shares during the period. Enterprise Bank & Trust Co’s holdings in Blackstone were worth $643,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BX. West Financial Advisors LLC acquired a new stake in shares of Blackstone during the 3rd quarter worth approximately $27,000. Chilton Capital Management LLC acquired a new position in Blackstone in the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Blackstone in the 2nd quarter valued at approximately $26,000. EdgeRock Capital LLC acquired a new stake in Blackstone in the 2nd quarter valued at approximately $27,000. Finally, Bank & Trust Co acquired a new position in Blackstone during the second quarter worth $29,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $148.41 on Thursday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $161.25. The firm’s fifty day simple moving average is $142.95 and its 200-day simple moving average is $131.69. The stock has a market cap of $106.06 billion, a PE ratio of 52.44, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). The firm 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%. Blackstone’s revenue was up 166.9% compared to the same quarter last year. During the same period last year, the firm earned $0.93 EPS. Analysts expect that Blackstone Inc. will post 4.57 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 annualized dividend and a yield of 2.21%. Blackstone’s dividend payout ratio (DPR) is currently 115.90%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Bank of America raised their target price on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 19th. Wells Fargo & Company upped their target price on shares of Blackstone from $163.00 to $169.00 and gave the stock an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. TD Cowen boosted their target price on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, Morgan Stanley lifted their price objective on Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $133.41.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred 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 completion of 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction 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 sale, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Company 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.