ST Germain D J Co. Inc. Boosts Stock Position in Blackstone Inc. (NYSE:BX)

ST Germain D J Co. Inc. lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,069 shares of the asset manager’s stock after buying an additional 1,053 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Blackstone were worth $13,792,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. West Financial Advisors LLC acquired a new stake in shares of Blackstone in the 3rd quarter valued at about $27,000. Chilton Capital Management LLC acquired a new position in shares of Blackstone in the 1st quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Blackstone in the 2nd quarter valued at approximately $26,000. EdgeRock Capital LLC bought a new position in Blackstone during the second quarter worth $27,000. Finally, Bank & Trust Co bought a new stake in Blackstone during the second quarter valued at $29,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BX has been the subject of several research reports. Citigroup lifted their price target on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday. Cowen restated a “hold” rating on shares of Blackstone in a research note on Friday. Barclays raised their price target on Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday. Redburn Atlantic assumed coverage on Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price on the stock. Finally, TD Cowen boosted their price target on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $152.41.

Blackstone Price Performance

Shares of BX traded up $2.63 during midday trading on Friday, reaching $172.36. The stock had a trading volume of 5,749,146 shares, compared to its average volume of 3,452,708. The firm’s 50 day moving average price is $147.01 and its 200-day moving average price is $133.22. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $175.94. The company has a market capitalization of $123.18 billion, a P/E ratio of 60.90, a P/E/G ratio of 1.24 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share 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 business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the business posted $0.93 EPS. The business’s revenue for the quarter was up 166.9% on a year-over-year basis. On average, analysts forecast that Blackstone Inc. will post 4.46 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a $0.86 dividend. The ex-dividend date is Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 2.00%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 115.90%.

Insider Transactions at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on 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 transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction 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 sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone 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.