Blackstone Inc. $BX Shares Purchased by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC lifted its position in Blackstone Inc. (NYSE:BX) by 10.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,539 shares of the asset manager’s stock after acquiring an additional 685 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Blackstone were worth $1,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1248 Management LLC purchased a new position in shares of Blackstone in the first quarter valued at approximately $25,000. Wealth Preservation Advisors LLC purchased a new stake in Blackstone in the 1st quarter valued at $28,000. Anderson Financial Strategies LLC purchased a new position in shares of Blackstone during the 1st quarter worth $28,000. Family CFO Inc purchased a new stake in shares of Blackstone in the second quarter valued at about $28,000. Finally, Livelsberger Financial Advisory acquired a new stake in Blackstone during the second quarter worth about $30,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In related news, Director James Breyer acquired 13,900 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was acquired at an average price of $143.86 per share, for a total transaction of $1,999,654.00. Following the purchase, the director owned 68,906 shares of the company’s stock, valued at $9,912,817.16. This represents a 25.27% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 21,500 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the sale, the insider owned 453,836 shares in the company, valued at $77,814,720.56. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have acquired 2,565,543 shares of company stock worth $69,050,139 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Down 1.4%

Shares of NYSE:BX opened at $136.54 on Wednesday. The firm’s 50-day moving average is $161.70 and its two-hundred day moving average is $157.98. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The firm has a market capitalization of $100.82 billion, a PE ratio of 39.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76.

Blackstone (NYSE:BX) last announced its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The firm had revenue of $2.49 billion for the quarter. Analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were paid a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s payout ratio is presently 147.43%.

Wall Street Analyst Weigh In

BX has been the subject of several analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a research note on Monday, October 13th. BNP Paribas Exane cut their target price on Blackstone from $178.00 to $167.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Evercore ISI decreased their price target on Blackstone from $197.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. decreased their target price on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Finally, Citigroup reduced their price target on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $179.00.

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.