Harbour Investments Inc. Has $1.11 Million Position in Blackstone Inc. (NYSE:BX)

Harbour Investments Inc. lowered its holdings in shares of Blackstone Inc. (NYSE:BX) by 5.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,215 shares of the asset manager’s stock after selling 379 shares during the period. Harbour Investments Inc.’s holdings in Blackstone were worth $1,105,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BX. Kingsview Wealth Management LLC raised its holdings in Blackstone by 7.7% during the 1st quarter. Kingsview Wealth Management LLC now owns 21,159 shares of the asset manager’s stock worth $2,780,000 after purchasing an additional 1,519 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of Blackstone by 21.8% in the 1st quarter. Orion Portfolio Solutions LLC now owns 34,222 shares of the asset manager’s stock valued at $4,496,000 after acquiring an additional 6,131 shares during the last quarter. M&G Plc bought a new stake in shares of Blackstone in the 1st quarter valued at about $7,922,000. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Blackstone in the 1st quarter valued at about $252,000. Finally, Nicolet Advisory Services LLC increased its stake in shares of Blackstone by 4.2% in the 1st quarter. Nicolet Advisory Services LLC now owns 10,294 shares of the asset manager’s stock valued at $1,359,000 after acquiring an additional 413 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Down 0.2 %

BX stock opened at $181.21 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $130.83 billion, a price-to-earnings ratio of 62.39, a PEG ratio of 1.55 and a beta of 1.49. The business’s fifty day moving average price is $159.65 and its two-hundred day moving average price is $139.31. Blackstone Inc. has a fifty-two week low of $102.59 and a fifty-two week high of $184.34.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. On average, equities analysts anticipate that Blackstone Inc. will post 4.39 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.90%. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Evercore ISI upped their price target on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. increased their target price on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note 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 research note on Friday, October 18th. Morgan Stanley increased their target price on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group increased their target price on Blackstone from $135.00 to $150.00 and gave the stock 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $157.63.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 42,249 shares of Blackstone 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 sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred 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 directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This 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 currently owned by insiders.

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.