Blackstone Inc. $BX Shares Bought by Red Door Wealth Management LLC

Red Door Wealth Management LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 167.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,453 shares of the asset manager’s stock after purchasing an additional 54,771 shares during the quarter. Blackstone makes up approximately 1.6% of Red Door Wealth Management LLC’s portfolio, making the stock its 15th largest holding. Red Door Wealth Management LLC’s holdings in Blackstone were worth $14,941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Perigon Wealth Management LLC boosted its holdings in shares of Blackstone by 3.2% during the second 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. boosted its stake in Blackstone by 2.2% in the 2nd 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 grew its holdings in Blackstone by 21.2% in the 2nd quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock valued at $2,810,000 after buying an additional 3,281 shares during the period. Kera Capital Partners Inc. purchased a new position in shares of Blackstone during the 2nd quarter worth about $273,000. Finally, Bourgeon Capital Management LLC acquired a new stake in shares of Blackstone in the second quarter worth approximately $423,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BX shares. Citigroup cut their price target on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. HSBC reduced their target price on Blackstone from $179.00 to $178.00 in a report on Monday, October 27th. BNP Paribas Exane dropped their price target on Blackstone from $178.00 to $167.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Blackstone in a report on Wednesday, October 8th. Finally, Bank of America cut their price target on shares of Blackstone from $199.00 to $189.00 in a report on Wednesday, December 10th. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.95.

Blackstone Stock Performance

Shares of NYSE:BX opened at $151.61 on Friday. The business’s 50-day simple moving average is $149.46 and its 200 day simple moving average is $159.15. The company has a market cap of $111.95 billion, a P/E ratio of 43.32, a PEG ratio of 1.21 and a beta of 1.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. Blackstone Inc. has a one year low of $115.66 and a one year high of $190.09.

Blackstone (NYSE:BX) last issued 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 during the quarter. On average, sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

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

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone bought 385,208 shares of the business’s stock in a transaction on Friday, November 21st. The shares were bought at an average cost of $25.96 per share, with a total value of $9,999,999.68. Following the transaction, the insider directly owned 16,332,883 shares in the company, valued at approximately $424,001,642.68. This trade represents a 2.42% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the sale, the insider directly owned 2,161 shares of the company’s stock, valued at $21,610. The trade was a 99.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders bought 2,950,751 shares of company stock valued at $79,050,138. Company insiders own 1.00% of the company’s stock.

Blackstone Company Profile

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.