8,846 Shares in Blackstone Inc. $BX Acquired by Tred Avon Family Wealth LLC

Tred Avon Family Wealth LLC acquired a new stake in Blackstone Inc. (NYSE:BX) during the third quarter, Holdings Channel reports. The fund acquired 8,846 shares of the asset manager’s stock, valued at approximately $1,511,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Traub Capital Management LLC purchased a new stake in Blackstone during the 2nd quarter valued at about $27,000. Family CFO Inc purchased a new stake in shares of Blackstone in the second quarter valued at approximately $28,000. Parvin Asset Management LLC purchased a new position in Blackstone during the second quarter worth approximately $35,000. Rexford Capital Inc. purchased a new position in shares of Blackstone during the 2nd quarter worth $35,000. Finally, RMG Wealth Management LLC acquired a new stake in Blackstone during the second quarter worth about $40,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, October 8th. TD Cowen decreased their price target on Blackstone from $205.00 to $183.00 and set a “buy” rating on the stock in a research note on Wednesday. Evercore ISI reduced their price target on shares of Blackstone from $197.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Bank of America lowered their price target on Blackstone from $199.00 to $189.00 in a research report on Wednesday, December 10th. Finally, Piper Sandler dropped their target price on Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Ten investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $177.25.

Insiders Place Their Bets

In other Blackstone news, Director James Breyer purchased 13,900 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was bought at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the acquisition, the director directly owned 68,906 shares of the company’s stock, valued at approximately $9,912,817.16. This represents a 25.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 384,468 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were acquired at an average cost of $26.01 per share, for a total transaction of $10,000,012.68. Following the transaction, the insider directly owned 16,525,117 shares in the company, valued at approximately $429,818,293.17. This represents a 2.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 797,148 shares of company stock valued at $24,050,153 in the last three months. Corporate insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX opened at $163.67 on Friday. The stock’s 50-day moving average is $151.03 and its two-hundred day moving average is $161.32. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. The company has a market cap of $120.86 billion, a price-to-earnings ratio of 46.76, a price-to-earnings-growth ratio of 1.15 and a beta of 1.75. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $190.09.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 23rd. The asset manager reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.29. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the firm earned $1.02 earnings per share. The business’s quarterly revenue was down 15.7% compared to the same quarter last year. Analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were paid a dividend of $1.29 per share. The ex-dividend date was Monday, November 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.2%. Blackstone’s payout ratio is presently 147.43%.

Blackstone 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.