Dynamic Technology Lab Private Ltd Acquires 5,998 Shares of Blackstone Inc. (NYSE:BX)

Dynamic Technology Lab Private Ltd grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 260.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,305 shares of the asset manager’s stock after buying an additional 5,998 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Blackstone were worth $1,272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sather Financial Group Inc raised its holdings in shares of Blackstone by 202.5% in the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after purchasing an additional 4,050 shares during the last quarter. Portside Wealth Group LLC purchased a new position in Blackstone in the third quarter valued at approximately $201,000. Wealth Enhancement Advisory Services LLC increased its position in Blackstone by 1.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after buying an additional 7,692 shares during the last quarter. Aljian Capital Management LLC purchased a new position in shares of Blackstone during the 3rd quarter valued at $1,951,000. Finally, Icon Wealth Advisors LLC increased its holdings in Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after acquiring an additional 18,117 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Trading Down 0.8 %

Shares of BX opened at $191.64 on Wednesday. The firm has a market cap of $138.36 billion, a price-to-earnings ratio of 65.86, a PEG ratio of 1.69 and a beta of 1.49. The firm has a 50 day moving average price of $167.36 and a 200-day moving average price of $143.76. Blackstone Inc. has a fifty-two week low of $105.51 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Blackstone (NYSE:BX) last announced 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 return on equity of 17.53% and a net margin of 19.46%. As a group, equities research analysts forecast that Blackstone Inc. will post 4.4 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a dividend of $0.86 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio is currently 118.21%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. UBS Group increased their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Piper Sandler cut Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a report on Wednesday, October 9th. Citigroup upped their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company boosted their price objective on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Blackstone has a consensus rating of “Hold” and an average price target of $157.63.

Blackstone Company 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.