Earned Wealth Advisors LLC Buys 3,441 Shares of Blackstone Inc. $BX

Earned Wealth Advisors LLC grew its stake in shares of Blackstone Inc. (NYSE:BX) by 110.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,565 shares of the asset manager’s stock after buying an additional 3,441 shares during the period. Earned Wealth Advisors LLC’s holdings in Blackstone were worth $1,122,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of BX. Kingstone Capital Partners Texas LLC increased its stake in Blackstone by 519,669.1% in the second quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock valued at $10,490,411,000 after purchasing an additional 70,118,948 shares in the last quarter. Norges Bank acquired a new stake in Blackstone during the 2nd quarter worth $1,071,348,000. Vanguard Group Inc. grew its stake in Blackstone by 2.2% in the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock valued at $10,394,670,000 after acquiring an additional 1,494,796 shares during the period. Lazard Asset Management LLC raised its position in shares of Blackstone by 31.9% during the second quarter. Lazard Asset Management LLC now owns 3,803,344 shares of the asset manager’s stock worth $568,902,000 after purchasing an additional 919,773 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Blackstone by 115.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,088,786 shares of the asset manager’s stock valued at $162,861,000 after purchasing an additional 583,384 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director James Breyer acquired 13,900 shares of Blackstone stock in a transaction on Tuesday, November 4th. The stock was purchased at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the transaction, the director directly owned 68,906 shares in the company, valued at $9,912,817.16. This trade represents a 25.27% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruth Porat acquired 324 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $146.92 per share, for a total transaction of $47,602.08. Following the completion of the transaction, the director directly owned 39,077 shares of the company’s stock, valued at approximately $5,741,192.84. This trade represents a 0.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 797,148 shares of company stock worth $24,050,153. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

NYSE:BX opened at $158.58 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a fifty day simple moving average of $148.70 and a 200 day simple moving average of $160.30. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $190.09. The stock has a market capitalization of $117.10 billion, a PE ratio of 45.31, a P/E/G ratio of 1.11 and a beta of 1.75.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The company had revenue of $2.49 billion during the quarter. On average, research analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, November 3rd. This is a boost from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s payout ratio is presently 147.43%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BX shares. Jefferies Financial Group cut their price target on shares of Blackstone from $199.00 to $187.00 in a research note on Monday, November 10th. TD Cowen cut their price objective on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. UBS Group reissued a “neutral” rating on shares of Blackstone in a research note on Wednesday, December 24th. JPMorgan Chase & Co. decreased their price objective on Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Finally, Bank of America cut their target price on Blackstone from $199.00 to $189.00 in a research note on Wednesday, December 10th. Ten investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Blackstone presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.95.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.