Northside Capital Management LLC Has $2.24 Million Stock Position in Blackstone Inc. $BX

Northside Capital Management LLC cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 55.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,100 shares of the asset manager’s stock after selling 16,163 shares during the quarter. Northside Capital Management LLC’s holdings in Blackstone were worth $2,238,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in BX. Canandaigua National Bank & Trust Co. purchased a new position in shares of Blackstone during the 3rd quarter valued at $221,000. Carolina Wealth Advisors LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at approximately $50,000. Salem Investment Counselors Inc. increased its holdings in Blackstone by 7.1% in the third quarter. Salem Investment Counselors Inc. now owns 5,409 shares of the asset manager’s stock worth $924,000 after buying an additional 357 shares during the last quarter. Union Bancaire Privee UBP SA lifted its stake in Blackstone by 30.7% in the third quarter. Union Bancaire Privee UBP SA now owns 10,772 shares of the asset manager’s stock valued at $1,840,000 after acquiring an additional 2,528 shares during the last quarter. Finally, Sanders Morris Harris LLC increased its stake in shares of Blackstone by 2.7% during the 3rd quarter. Sanders Morris Harris LLC now owns 533,400 shares of the asset manager’s stock worth $91,131,000 after purchasing an additional 13,965 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

NYSE:BX opened at $152.01 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. Blackstone Inc. has a one year low of $115.66 and a one year high of $190.09. The company has a fifty day moving average price of $149.83 and a 200 day moving average price of $158.99. The stock has a market cap of $112.25 billion, a P/E ratio of 43.43, a PEG ratio of 1.20 and a beta of 1.76.

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

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were issued a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, November 3rd. This is a boost from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s payout ratio is 147.43%.

Insider Transactions at Blackstone

In other Blackstone news, Director James Breyer acquired 13,900 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was bought at an average price of $143.86 per share, for a total transaction of $1,999,654.00. Following the purchase, the director owned 68,906 shares in the company, valued at $9,912,817.16. This represents a 25.27% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was acquired at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the purchase, the insider owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. This trade represents a 51.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 2,950,751 shares of company stock valued at $79,050,138 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on BX shares. Jefferies Financial Group lowered their target price on shares of Blackstone from $199.00 to $187.00 in a research report on Monday, November 10th. TD Cowen cut their price objective on Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Deutsche Bank Aktiengesellschaft lowered their price target on Blackstone from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, October 8th. Finally, Barclays lifted their target price on shares of Blackstone from $165.00 to $172.00 and gave the stock an “equal weight” rating in a report on Friday. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $178.84.

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.