Blackstone Inc. (NYSE:BX) Shares Sold by Cravens & Co Advisors LLC

Cravens & Co Advisors LLC decreased its holdings in Blackstone Inc. (NYSE:BX) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,559 shares of the asset manager’s stock after selling 757 shares during the quarter. Blackstone comprises 1.1% of Cravens & Co Advisors LLC’s investment portfolio, making the stock its 14th largest holding. Cravens & Co Advisors LLC’s holdings in Blackstone were worth $1,464,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BX. Raleigh Capital Management Inc. lifted its holdings in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the period. Capital Advisors Ltd. LLC raised its holdings in Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after purchasing an additional 62 shares in the last quarter. Fidelis Capital Partners LLC boosted its holdings in Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after purchasing an additional 62 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Blackstone by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock worth $2,132,000 after buying an additional 64 shares in the last quarter. Finally, Lindbrook Capital LLC grew its holdings in Blackstone by 1.1% during the third quarter. Lindbrook Capital LLC now owns 5,743 shares of the asset manager’s stock worth $879,000 after acquiring an additional 65 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 value of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at $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 currently owned by insiders.

Blackstone Stock Down 0.8 %

Blackstone stock opened at $191.64 on Wednesday. The company’s 50-day moving average price is $167.36 and its two-hundred day moving average price is $143.76. The stock has a market cap of $138.36 billion, a price-to-earnings ratio of 65.86, a PEG ratio of 1.64 and a beta of 1.49. Blackstone Inc. has a 52 week low of $105.51 and a 52 week high of $200.96. 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 (NYSE:BX) last issued its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. On average, analysts expect that Blackstone Inc. will post 4.4 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a $0.86 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Monday, October 28th. Blackstone’s payout ratio is presently 118.21%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BX. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Bank of America upped their target price on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a research report on Wednesday, October 9th. Redburn Atlantic began coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $157.63.

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.