Eagle Ridge Investment Management Buys 357 Shares of Blackstone Inc. (NYSE:BX)

Eagle Ridge Investment Management increased its position in shares of Blackstone Inc. (NYSE:BX) by 18.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,257 shares of the asset manager’s stock after buying an additional 357 shares during the period. Eagle Ridge Investment Management’s holdings in Blackstone were worth $346,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Piper Sandler cut Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research report on Wednesday, October 9th. Evercore ISI lifted their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. The Goldman Sachs Group increased their price objective on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company increased their price target on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Blackstone has an average rating of “Hold” and an average price target of $155.38.

Blackstone Stock Performance

Shares of NYSE:BX opened at $169.66 on Friday. The business has a fifty day moving average of $149.16 and a 200-day moving average of $134.15. The firm has a market cap of $121.25 billion, a PE ratio of 59.95, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $175.94.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a dividend of $0.86 per share. This is an increase 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 2.03%. Blackstone’s dividend payout ratio is currently 121.55%.

Insider Transactions at Blackstone

In related 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 directly owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John G. Finley sold 35,000 shares of the company’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 completion of the sale, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph Baratta sold 116,448 shares of the firm’s 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 approximately $120,610,146.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate 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.