Blackstone Inc. (NYSE:BX) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,747 shares of the asset manager’s stock after purchasing an additional 240 shares during the quarter. Apollon Wealth Management LLC’s holdings in Blackstone were worth $7,924,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BX. West Financial Advisors LLC acquired a new stake in shares of Blackstone in the 3rd quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Blackstone during the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC acquired a new position in Blackstone during the second quarter worth $27,000. Bank & Trust Co purchased a new stake in Blackstone during the second quarter worth $29,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of Blackstone in the second quarter valued at $31,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BX shares. Morgan Stanley upped their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Citigroup increased their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. TD Cowen increased their target price on Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a report on Friday, October 18th. JPMorgan Chase & Co. raised their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, The Goldman Sachs Group lifted their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average target price of $157.63.

Blackstone Trading Up 3.2 %

Blackstone stock opened at $183.16 on Tuesday. The stock has a 50-day simple moving average of $157.11 and a 200 day simple moving average of $138.18. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. The stock has a market capitalization of $132.24 billion, a P/E ratio of 62.94, a PEG ratio of 1.52 and a beta of 1.49. Blackstone Inc. has a 52 week low of $96.93 and a 52 week high of $183.96.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating the consensus estimate of $0.91 by $0.10. The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Analysts expect that Blackstone Inc. will post 4.39 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 1.88%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 118.21%.

Insider Activity

In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 position. The disclosure for this sale can be found here. Company 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.