18,747 Shares in Blackstone Inc. (NYSE:BX) Acquired by Proactive Wealth Strategies LLC

Proactive Wealth Strategies LLC acquired a new position in Blackstone Inc. (NYSE:BX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 18,747 shares of the asset manager’s stock, valued at approximately $2,871,000. Blackstone accounts for about 1.6% of Proactive Wealth Strategies LLC’s holdings, making the stock its 16th largest position.

Several other institutional investors and hedge funds also recently bought and sold shares of BX. Thurston Springer Miller Herd & Titak Inc. bought a new position in Blackstone in the 2nd quarter valued at $26,000. EdgeRock Capital LLC bought a new position in Blackstone in the 2nd quarter valued at $27,000. West Financial Advisors LLC bought a new position in Blackstone in the 3rd quarter valued at $27,000. Bank & Trust Co bought a new position in Blackstone in the 2nd quarter valued at $29,000. Finally, Ridgewood Investments LLC bought a new position in Blackstone in the 2nd quarter valued at $31,000. 70.00% of the stock is owned by institutional investors.

Blackstone Price Performance

BX stock opened at $183.16 on Tuesday. The firm’s 50-day moving average price is $157.93 and its two-hundred day moving average price is $138.60. Blackstone Inc. has a 12-month low of $96.93 and a 12-month high of $183.96. The stock has a market capitalization of $132.24 billion, a price-to-earnings ratio of 62.94, a PEG ratio of 1.52 and a beta of 1.49. The company has a current ratio of 0.71, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. As a group, equities analysts predict that Blackstone Inc. will post 4.39 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a dividend of $0.86 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.88%. Blackstone’s payout ratio is presently 118.21%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BX shares. JPMorgan Chase & Co. raised their price objective on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets raised their price objective on shares of Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Citigroup raised their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Redburn Atlantic started coverage on shares of Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $157.63.

Insider Activity

In other news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.