Curi RMB Capital LLC Has $623,000 Holdings in Blackstone Inc. (NYSE:BX)

Curi RMB Capital LLC lowered its holdings in Blackstone Inc. (NYSE:BX) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,071 shares of the asset manager’s stock after selling 154 shares during the quarter. Curi RMB Capital LLC’s holdings in Blackstone were worth $623,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Planning Capital Management Corp lifted its holdings in shares of Blackstone by 979.9% in the third quarter. Planning Capital Management Corp now owns 1,771 shares of the asset manager’s stock valued at $271,000 after purchasing an additional 1,607 shares in the last quarter. KBC Group NV lifted its stake in Blackstone by 87.2% during the 3rd quarter. KBC Group NV now owns 166,413 shares of the asset manager’s stock valued at $25,482,000 after acquiring an additional 77,537 shares in the last quarter. Huntington National Bank grew its stake in shares of Blackstone by 1.9% in the 3rd quarter. Huntington National Bank now owns 24,451 shares of the asset manager’s stock worth $3,744,000 after acquiring an additional 452 shares in the last quarter. Plato Investment Management Ltd lifted its position in shares of Blackstone by 136.4% during the third quarter. Plato Investment Management Ltd now owns 759 shares of the asset manager’s stock valued at $116,000 after purchasing an additional 438 shares in the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in Blackstone in the 3rd quarter worth about $27,979,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BX. Wells Fargo & Company boosted their target price on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. BMO Capital Markets raised their target price on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Redburn Atlantic initiated coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, UBS Group raised their price target on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus price target of $157.63.

Blackstone Price Performance

Shares of NYSE BX opened at $181.41 on Friday. The stock has a fifty day moving average of $161.40 and a 200-day moving average of $140.02. The stock has a market cap of $130.98 billion, a PE ratio of 62.34, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49. 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 Inc. has a fifty-two week low of $102.79 and a fifty-two week high of $184.34.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. Equities research analysts anticipate that Blackstone Inc. will post 4.39 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date was Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is 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.