RDA Financial Network Has $1.67 Million Stock Position in Blackstone Inc. (NYSE:BX)

RDA Financial Network reduced its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,923 shares of the asset manager’s stock after selling 160 shares during the quarter. RDA Financial Network’s holdings in Blackstone were worth $1,673,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Blackstone by 1.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after purchasing an additional 7,692 shares during the last quarter. Norden Group LLC raised its position in Blackstone by 2,072.0% in the first quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock worth $4,802,000 after acquiring an additional 34,872 shares during the period. Fisher Asset Management LLC raised its position in shares of Blackstone by 10.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock valued at $614,000 after purchasing an additional 459 shares during the period. Global Assets Advisory LLC bought a new stake in shares of Blackstone in the first quarter valued at approximately $65,050,000. Finally, Blue Trust Inc. raised its position in shares of Blackstone by 936.2% in the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock valued at $783,000 after purchasing an additional 5,383 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’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 completion of the transaction, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on BX. The Goldman Sachs Group boosted their price objective on shares of Blackstone from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Barclays boosted their price objective on shares of Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Evercore ISI boosted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday. Bank of America boosted their price target on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Piper Sandler cut 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. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $136.18.

Blackstone Trading Up 0.3 %

BX stock traded up $0.51 during mid-day trading on Tuesday, hitting $156.00. 1,508,782 shares of the company were exchanged, compared to its average volume of 3,404,728. The firm has a market capitalization of $111.48 billion, a P/E ratio of 55.17, a PEG ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $161.25. 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 business has a fifty day simple moving average of $144.24 and a 200-day simple moving average of $132.31.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the company earned $0.93 earnings per share. The business’s revenue for the quarter was up 166.9% compared to the same quarter last year. On average, equities research analysts predict that Blackstone Inc. will post 4.46 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Monday, July 29th. Blackstone’s dividend payout ratio (DPR) is 115.90%.

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.