Ashton Thomas Private Wealth LLC Raises Stock Holdings in Blackstone Inc. $BX

Ashton Thomas Private Wealth LLC lifted its stake in shares of Blackstone Inc. (NYSE:BXFree Report) by 32.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,481 shares of the asset manager’s stock after buying an additional 10,104 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Blackstone were worth $7,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Arcus Capital Partners LLC grew its position in shares of Blackstone by 1.2% during the second quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock worth $739,000 after acquiring an additional 58 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in Blackstone by 3.5% during the 2nd quarter. GHP Investment Advisors Inc. now owns 1,784 shares of the asset manager’s stock valued at $267,000 after purchasing an additional 61 shares during the period. WNY Asset Management LLC increased its stake in shares of Blackstone by 1.7% in the second quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager’s stock valued at $576,000 after purchasing an additional 64 shares during the period. Redwood Financial Network Corp boosted its position in shares of Blackstone by 1.8% during the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after buying an additional 65 shares during the period. Finally, Obermeyer Wealth Partners increased its position in Blackstone by 2.3% in the 3rd quarter. Obermeyer Wealth Partners now owns 2,993 shares of the asset manager’s stock valued at $511,000 after acquiring an additional 66 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BMO Capital Markets decreased their price target on Blackstone from $180.00 to $165.00 and set an “outperform” rating for the company in a research note on Monday. Citizens Jmp reiterated a “market outperform” rating and issued a $195.00 target price on shares of Blackstone in a research report on Friday, January 30th. Citigroup reaffirmed a “market outperform” rating on shares of Blackstone in a research note on Friday, January 30th. Morgan Stanley raised their price objective on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Finally, Keefe, Bruyette & Woods decreased their price target 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. Eleven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, Blackstone presently has an average rating of “Moderate Buy” and an average target price of $174.77.

View Our Latest Analysis on BX

Blackstone Stock Performance

BX opened at $134.55 on Thursday. The business has a fifty day simple moving average of $152.62 and a 200-day simple moving average of $160.13. The firm has a market cap of $99.36 billion, a PE ratio of 34.68, a P/E/G ratio of 1.04 and a beta of 1.76. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $190.09.

Blackstone (NYSE:BXGet Free Report) last released its quarterly earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.21. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The business had revenue of $4.36 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the company posted $1.69 EPS. Blackstone’s revenue for the quarter was up 41.4% on a year-over-year basis. As a group, equities analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 9th will be given a $1.49 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date is Monday, February 9th. This represents a $5.96 annualized dividend and a dividend yield of 4.4%. Blackstone’s payout ratio is currently 132.99%.

Key Stories Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

Insiders Place Their Bets

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the sale, the insider directly owned 2,161 shares of the company’s stock, valued at $21,610. The trade was a 99.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 385,208 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was acquired at an average cost of $25.96 per share, with a total value of $9,999,999.68. Following the transaction, the insider owned 16,332,883 shares of the company’s stock, valued at $424,001,642.68. This trade represents a 2.42% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 770,078 shares of company stock worth $20,058,800. Corporate insiders own 1.00% of the company’s stock.

About Blackstone

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Blackstone (NYSE:BX)

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