Cetera Advisor Networks LLC Has $26.43 Million Holdings in Blackstone Inc. (NYSE:BX)

Cetera Advisor Networks LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 201,180 shares of the asset manager’s stock after purchasing an additional 7,480 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Blackstone were worth $26,429,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Northwest Financial Advisors bought a new stake in Blackstone in the 4th quarter valued at $25,000. Chilton Capital Management LLC bought a new stake in Blackstone in the 1st quarter valued at $26,000. Bourgeon Capital Management LLC increased its holdings in Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after buying an additional 100 shares during the period. Roble Belko & Company Inc bought a new stake in Blackstone in the 4th quarter valued at $30,000. Finally, Advantage Trust Co bought a new stake in shares of Blackstone in the 4th quarter worth about $30,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Blackstone

In other Blackstone news, insider Joseph Baratta 4,987 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Ruth Porat bought 219 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was bought at an average price of $119.48 per share, with a total value of $26,166.12. Following the completion of the acquisition, the director now owns 34,445 shares of the company’s stock, valued at $4,115,488.60. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Joseph Baratta 4,987 shares of Blackstone stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Stock Down 2.9 %

NYSE BX traded down $3.98 during trading hours on Friday, reaching $133.05. 4,695,832 shares of the company’s stock were exchanged, compared to its average volume of 4,029,145. The company’s 50-day moving average is $127.15 and its two-hundred day moving average is $125.64. Blackstone Inc. has a one year low of $88.59 and a one year high of $145.16. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 0.77. The company has a market capitalization of $95.08 billion, a price-to-earnings ratio of 47.00, a price-to-earnings-growth ratio of 1.17 and a beta of 1.50.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. Blackstone’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.93 earnings per share. On average, analysts forecast that Blackstone Inc. will post 4.58 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Monday, July 29th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.47%. Blackstone’s dividend payout ratio is presently 115.90%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BX. Bank of America upped their target price on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 19th. TD Cowen upped their target price on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Argus upped their target price on shares of Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. JMP Securities reissued a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. Finally, Barclays increased their price objective on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $127.56.

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.