Ingalls & Snyder LLC Increases Position in Blackstone Inc. $BX

Ingalls & Snyder LLC lifted its position in Blackstone Inc. (NYSE:BX) by 5.6% in the second quarter, Holdings Channel reports. The firm owned 3,124 shares of the asset manager’s stock after buying an additional 165 shares during the period. Ingalls & Snyder LLC’s holdings in Blackstone were worth $467,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. 1248 Management LLC acquired a new position in shares of Blackstone during the first quarter worth $25,000. Family CFO Inc purchased a new stake in Blackstone in the second quarter valued at $28,000. Wealth Preservation Advisors LLC purchased a new stake in shares of Blackstone during the 1st quarter worth about $28,000. Anderson Financial Strategies LLC purchased a new stake in shares of Blackstone during the 1st quarter worth about $28,000. Finally, Livelsberger Financial Advisory purchased a new position in Blackstone in the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 0.3%

BX stock opened at $154.55 on Monday. The company has a market cap of $113.92 billion, a P/E ratio of 44.16, a P/E/G ratio of 1.24 and a beta of 1.77. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96. The company’s 50-day moving average price is $170.20 and its 200 day moving average price is $156.15. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last released its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The firm had revenue of $2.49 billion for the quarter. On average, research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Monday, November 3rd will be issued a $1.29 dividend. This represents a $5.16 annualized dividend and a dividend yield of 3.3%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, November 3rd. Blackstone’s payout ratio is currently 117.71%.

Analysts Set New Price Targets

A number of research analysts have weighed in on BX shares. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Blackstone in a research report on Friday. TD Cowen decreased their price objective on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating for the company in a research report on Friday. Bank of America reduced their price target on shares of Blackstone from $200.00 to $199.00 in a research report on Friday, October 3rd. Finally, Barclays dropped their price objective on shares of Blackstone from $171.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $180.26.

Insider Buying and Selling

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Baratta sold 113,000 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $175.69, for a total transaction of $19,852,970.00. Following the transaction, the director directly owned 695,757 shares in the company, valued at $122,237,547.33. The trade was a 13.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 2,538,345 shares of company stock valued at $65,046,628 and have sold 16,984,634 shares valued at $155,181,346. 1.00% of the stock is currently owned by company insiders.

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.