6,968 Shares in Blackstone Inc. $BX Bought by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC acquired a new stake in Blackstone Inc. (NYSE:BX) during the third quarter, according to its most recent filing with the SEC. The firm acquired 6,968 shares of the asset manager’s stock, valued at approximately $781,000.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Blackstone in the second quarter valued at about $6,112,162,000. Bank of America Corp DE purchased a new position in Blackstone during the second quarter worth about $1,364,373,000. Legal & General Group Plc acquired a new stake in Blackstone in the second quarter valued at about $605,267,000. Bank of New York Mellon Corp increased its holdings in shares of Blackstone by 8.0% in the 1st quarter. Bank of New York Mellon Corp now owns 4,520,908 shares of the asset manager’s stock valued at $519,859,000 after purchasing an additional 333,798 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Blackstone by 1.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,353,274 shares of the asset manager’s stock worth $512,250,000 after buying an additional 52,755 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BX has been the subject of several research analyst reports. Oppenheimer raised their price objective on Blackstone from $164.00 to $168.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Blackstone in a research report on Friday, October 16th. Argus upped their target price on Blackstone from $146.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Royal Bank Of Canada raised their price target on Blackstone from $161.00 to $169.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, HSBC reiterated a “hold” rating and issued a $135.00 price objective on shares of Blackstone in a research report on Monday, July 20th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.57.

Insiders Place Their Bets

In related news, major shareholder Holdings I. L.P. Blackstone sold 124,600 shares of Blackstone stock in a transaction on Friday, September 25th. The shares were sold at an average price of $16.40, for a total transaction of $2,043,440.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of the company’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of $2.94, for a total transaction of $11,077,261.44. Following the sale, the insider directly owned 16,120 shares of the company’s stock, valued at approximately $47,392.80. This trade represents a 99.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have bought 464,792 shares of company stock worth $12,205,945 and have sold 4,077,276 shares worth $37,573,644. 1.00% of the stock is currently owned by insiders.

Blackstone Trading Up 0.7%

Shares of Blackstone stock opened at $118.85 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.71 and a quick ratio of 0.72. Blackstone Inc. has a 1 year low of $101.73 and a 1 year high of $165.14. The business has a 50 day moving average price of $125.07 and a 200 day moving average price of $125.43. The company has a market capitalization of $89.21 billion, a P/E ratio of 26.41, a P/E/G ratio of 1.46 and a beta of 1.59.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, October 22nd. The asset manager reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.06. Blackstone had a return on equity of 23.16% and a net margin of 22.11%. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter last year, the business posted $0.80 EPS. The firm’s quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts anticipate that Blackstone Inc. will post 5.85 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Monday, November 2nd will be given a $1.12 dividend. The ex-dividend date of this dividend is Monday, November 2nd. This is a decrease from Blackstone’s previous quarterly dividend of $1.29. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. Blackstone’s dividend payout ratio (DPR) is currently 99.56%.

Blackstone Profile

Blackstone Inc (NYSE:BX) is a global alternative asset management firm that provides investment and advisory services to institutional investors, companies, and qualified individual investors. The company manages capital across private equity, real estate, credit and insurance, infrastructure, hedge fund solutions, secondaries, and growth-oriented investments.

Blackstone invests in and manages portfolios of businesses, properties, infrastructure assets, and credit instruments across a range of industries.