Brown Lisle Cummings Inc. Acquires 225 Shares of Blackstone Inc. (NYSE:BX)

Brown Lisle Cummings Inc. grew its position in shares of Blackstone Inc. (NYSE:BX) by 0.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 26,285 shares of the asset manager’s stock after acquiring an additional 225 shares during the quarter. Blackstone comprises approximately 1.2% of Brown Lisle Cummings Inc.’s holdings, making the stock its 19th largest holding. Brown Lisle Cummings Inc.’s holdings in Blackstone were worth $4,025,000 at the end of the most recent quarter.

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

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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated 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 sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 business’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BX has been the subject of several recent analyst reports. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective for the company. in a research note on Wednesday, October 9th. Barclays lifted their price objective on shares of Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday. Redburn Atlantic started coverage on Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price for the company. Finally, Citigroup lifted their target price on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $155.38.

Blackstone Stock Performance

BX stock opened at $172.36 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The business has a 50-day moving average price of $147.01 and a 200 day moving average price of $133.31. The company has a market capitalization of $123.18 billion, a P/E ratio of 60.90, a PEG ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $175.94.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the firm earned $0.93 EPS. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. As a group, equities research analysts forecast that Blackstone Inc. will post 4.46 EPS for the current fiscal year.

Blackstone Increases Dividend

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

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.