Benjamin Edwards Inc. Has $4.13 Million Stock Holdings in Blackstone Inc. $BX

Benjamin Edwards Inc. increased its position in Blackstone Inc. (NYSE:BX) by 44.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,143 shares of the asset manager’s stock after purchasing an additional 7,425 shares during the quarter. Benjamin Edwards Inc.’s holdings in Blackstone were worth $4,126,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Traub Capital Management LLC acquired a new stake in shares of Blackstone during the second quarter worth $27,000. Family CFO Inc acquired a new position in shares of Blackstone during the 2nd quarter worth about $28,000. Livelsberger Financial Advisory bought a new stake in shares of Blackstone in the 2nd quarter valued at about $30,000. 1248 Management LLC bought a new position in Blackstone during the 1st quarter worth approximately $34,000. Finally, Investors Research Corp acquired a new position in Blackstone during the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insiders Place Their Bets

In related news, Director Ruth Porat purchased 324 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average price of $146.92 per share, for a total transaction of $47,602.08. Following the purchase, the director owned 39,077 shares in the company, valued at approximately $5,741,192.84. This represents a 0.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Breyer acquired 13,900 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were bought at an average price 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 of the company’s stock, valued at approximately $9,912,817.16. The trade was a 25.27% 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 Stock Performance

NYSE BX opened at $157.76 on Friday. The firm’s fifty day moving average price is $149.54 and its two-hundred day moving average price is $160.86. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $190.09. The firm has a market capitalization of $116.50 billion, a P/E ratio of 45.07, a price-to-earnings-growth ratio of 1.09 and a beta of 1.75. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last issued its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (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 for the quarter. As a group, research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current 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%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BX shares. TD Cowen reduced their price target 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. Keefe, Bruyette & Woods decreased their target price on Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a research note on Monday, October 13th. HSBC dropped their price target on Blackstone from $179.00 to $178.00 in a research report on Monday, October 27th. UBS Group reissued a “neutral” rating on shares of Blackstone in a research note on Wednesday, December 24th. Finally, BNP Paribas Exane cut their price target on shares of Blackstone from $178.00 to $167.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $179.89.

Blackstone Company Profile

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.