Harmony Asset Management LLC Has $1.43 Million Holdings in Blackstone Inc. (NYSE:BX)

Harmony Asset Management LLC raised its position in shares of Blackstone Inc. (NYSE:BX) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,319 shares of the asset manager’s stock after purchasing an additional 71 shares during the period. Harmony Asset Management LLC’s holdings in Blackstone were worth $1,427,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Wulff Hansen & CO. raised its position in Blackstone by 12,192.7% during the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after purchasing an additional 7,281,128 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Blackstone by 213.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock worth $170,345,000 after buying an additional 937,084 shares during the period. Mackenzie Financial Corp grew its holdings in Blackstone by 468.4% during the 2nd quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock worth $137,114,000 after acquiring an additional 912,685 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Blackstone by 7,917.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 400,000 shares of the asset manager’s stock worth $49,520,000 after purchasing an additional 395,011 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related 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 transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 42,249 shares of the 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 transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Blackstone stock opened at $187.05 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 1-year low of $111.05 and a 1-year high of $200.96. The firm has a market cap of $135.05 billion, a P/E ratio of 64.28, a P/E/G ratio of 1.63 and a beta of 1.51. The firm has a 50-day moving average of $169.29 and a 200-day moving average of $145.09.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Sell-side analysts expect that Blackstone Inc. will post 4.4 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 1.84%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio is 118.21%.

Analyst Ratings Changes

A number of analysts recently commented on BX shares. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. BMO Capital Markets raised their price target on shares of Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Redburn Atlantic initiated coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price on the stock. Morgan Stanley lifted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective for the company. in a research report on Wednesday, October 9th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $157.63.

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.