Blackstone Inc. $BX Shares Purchased by Joel Isaacson & Co. LLC

Joel Isaacson & Co. LLC raised its position in shares of Blackstone Inc. (NYSE:BX) by 18.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,427 shares of the asset manager’s stock after purchasing an additional 4,176 shares during the period. Joel Isaacson & Co. LLC’s holdings in Blackstone were worth $4,686,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BX. Perigon Wealth Management LLC grew its holdings in shares of Blackstone by 3.2% in the 2nd quarter. Perigon Wealth Management LLC now owns 62,484 shares of the asset manager’s stock worth $9,346,000 after purchasing an additional 1,949 shares during the last quarter. Vanguard Group Inc. grew its stake in Blackstone by 2.2% during the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after buying an additional 1,494,796 shares during the last quarter. Redmond Asset Management LLC raised its stake in shares of Blackstone by 21.2% in the second quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock valued at $2,810,000 after acquiring an additional 3,281 shares during the last quarter. Bourgeon Capital Management LLC bought a new stake in Blackstone during the 2nd quarter worth approximately $423,000. Finally, Longfellow Investment Management Co. LLC raised its position in Blackstone by 259.8% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 22,160 shares of the asset manager’s stock valued at $3,315,000 after purchasing an additional 16,001 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Down 5.8%

Shares of BX stock opened at $153.94 on Wednesday. The company has a market capitalization of $113.68 billion, a PE ratio of 43.98, a price-to-earnings-growth ratio of 1.15 and a beta of 1.75. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $190.09. The firm has a 50 day moving average price of $151.59 and a two-hundred day moving average price of $161.43.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, October 23rd. The asset manager reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.29. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the business earned $1.02 EPS. The company’s quarterly revenue was down 15.7% compared to the same quarter last year. As a group, analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were paid a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 3.4%. This is an increase from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. Blackstone’s dividend payout ratio is presently 147.43%.

Insider Buying and Selling

In other news, Director James Breyer bought 13,900 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were purchased 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 in the company, valued at $9,912,817.16. This represents a 25.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 385,208 shares of Blackstone stock in a transaction that occurred on Friday, November 21st. The shares were purchased at an average price of $25.96 per share, for a total transaction of $9,999,999.68. Following the transaction, the insider directly owned 16,332,883 shares in the company, valued at $424,001,642.68. This represents a 2.42% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 797,148 shares of company stock valued at $24,050,153 over the last 90 days. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BX shares. Piper Sandler cut their price target on Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price target on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Jefferies Financial Group cut their price objective on shares of Blackstone from $187.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Finally, HSBC reduced their target price on shares of Blackstone from $179.00 to $178.00 in a research note on Monday, October 27th. Ten analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus price target of $177.25.

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.