Compass Ion Advisors LLC Purchases 336 Shares of Blackstone Inc. (NYSE:BX)

Compass Ion Advisors LLC raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,767 shares of the asset manager’s stock after acquiring an additional 336 shares during the quarter. Compass Ion Advisors LLC’s holdings in Blackstone were worth $3,946,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. OLD National Bancorp IN grew its stake in Blackstone by 14.2% in the third quarter. OLD National Bancorp IN now owns 6,446 shares of the asset manager’s stock valued at $987,000 after purchasing an additional 800 shares in the last quarter. Cyndeo Wealth Partners LLC increased its holdings in Blackstone by 45.6% during the third quarter. Cyndeo Wealth Partners LLC now owns 27,785 shares of the asset manager’s stock worth $4,255,000 after buying an additional 8,700 shares during the last quarter. Bernardo Wealth Planning LLC raised its position in Blackstone by 8.2% during the third quarter. Bernardo Wealth Planning LLC now owns 3,827 shares of the asset manager’s stock worth $650,000 after acquiring an additional 291 shares in the last quarter. Madison Park Capital Advisors LLC grew its position in shares of Blackstone by 1.5% in the 3rd quarter. Madison Park Capital Advisors LLC now owns 16,817 shares of the asset manager’s stock valued at $2,575,000 after acquiring an additional 245 shares during the period. Finally, Resonant Capital Advisors LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at about $211,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on BX. Morgan Stanley upped their price objective on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. TD Cowen upped their price target on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research note on Friday. Wells Fargo & Company increased their target price on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Citigroup upped their price objective on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $152.41.

Insider Buying and Selling at Blackstone

In other news, 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 completion of the transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the sale, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of BX stock traded up $2.63 on Friday, hitting $172.36. 5,749,146 shares of the company’s stock were exchanged, compared to its average volume of 3,452,708. The stock has a market cap of $123.18 billion, a P/E ratio of 60.90, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $175.94. The company has a 50 day moving average of $147.01 and a 200 day moving average of $133.27.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.93 EPS. On average, equities research analysts predict that Blackstone Inc. will post 4.46 EPS for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is presently 115.90%.

About Blackstone

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.