Stifel Financial Corp Has $142.05 Million Stock Position in Blackstone Inc. (NYSE:BX)

Stifel Financial Corp trimmed its position in 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 927,645 shares of the asset manager’s stock after selling 11,131 shares during the quarter. Stifel Financial Corp’s holdings in Blackstone were worth $142,048,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Quantinno Capital Management LP raised its position in Blackstone by 32.8% in the third quarter. Quantinno Capital Management LP now owns 51,063 shares of the asset manager’s stock worth $7,819,000 after purchasing an additional 12,626 shares in the last quarter. Royal London Asset Management Ltd. raised its holdings in shares of Blackstone by 29.5% in the 3rd quarter. Royal London Asset Management Ltd. now owns 386,523 shares of the asset manager’s stock worth $59,188,000 after buying an additional 88,018 shares in the last quarter. Morse Asset Management Inc boosted its stake in Blackstone by 0.7% in the 3rd quarter. Morse Asset Management Inc now owns 11,232 shares of the asset manager’s stock valued at $1,720,000 after buying an additional 80 shares in the last quarter. IHT Wealth Management LLC lifted its holdings in shares of Blackstone by 56.7% during the third quarter. IHT Wealth Management LLC now owns 14,168 shares of the asset manager’s stock valued at $2,163,000 after acquiring an additional 5,125 shares during the period. Finally, Ingalls & Snyder LLC grew its holdings in shares of Blackstone by 28.4% in the 3rd quarter. Ingalls & Snyder LLC now owns 3,255 shares of the asset manager’s stock worth $498,000 after purchasing an additional 719 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley raised their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Redburn Atlantic began coverage on shares of Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target on the stock. Finally, UBS Group boosted their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $157.63.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were 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 owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Price Performance

Blackstone stock opened at $187.20 on Friday. The firm has a market capitalization of $135.16 billion, a P/E ratio of 64.33, a PEG ratio of 1.58 and a beta of 1.51. The business has a 50-day moving average of $171.79 and a 200-day moving average of $146.50. 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.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. On average, equities analysts anticipate that Blackstone Inc. will post 4.4 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a dividend of $0.86 per share. The ex-dividend date was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.84%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

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.