Earned Wealth Advisors LLC Acquires 3,441 Shares of Blackstone Inc. $BX

Earned Wealth Advisors LLC increased its holdings in Blackstone Inc. (NYSE:BX) by 110.1% in the third quarter, Holdings Channel reports. The institutional investor owned 6,565 shares of the asset manager’s stock after buying an additional 3,441 shares during the period. Earned Wealth Advisors LLC’s holdings in Blackstone were worth $1,122,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC lifted its position in shares of Blackstone by 519,669.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock valued at $10,490,411,000 after acquiring an additional 70,118,948 shares during the period. Vanguard Group Inc. grew its stake in Blackstone by 2.2% during the second 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Blackstone by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock valued at $2,462,706,000 after buying an additional 227,416 shares in the last quarter. Norges Bank acquired a new stake in shares of Blackstone during the 2nd quarter worth approximately $1,071,348,000. Finally, Legal & General Group Plc increased its stake in Blackstone by 4.7% in the second quarter. Legal & General Group Plc now owns 4,532,941 shares of the asset manager’s stock valued at $678,037,000 after acquiring an additional 202,245 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 2.9%

NYSE BX opened at $158.58 on Friday. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $190.09. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $117.10 billion, a PE ratio of 45.31, a price-to-earnings-growth ratio of 1.11 and a beta of 1.75. The business’s 50-day moving average price is $148.70 and its two-hundred day moving average price is $160.30.

Blackstone (NYSE:BX) last released its quarterly earnings results 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 firm had revenue of $2.49 billion during the quarter. On average, analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were issued a dividend of $1.29 per share. This represents a $5.16 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, November 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio (DPR) is 147.43%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BX. Morgan Stanley lifted their price target on Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. JMP Securities reissued a “market outperform” rating and set a $195.00 target price on shares of Blackstone in a research note on Friday, October 24th. BNP Paribas Exane decreased their price target on shares of Blackstone from $178.00 to $167.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. HSBC cut their target price on shares of Blackstone from $179.00 to $178.00 in a research report on Monday, October 27th. Finally, Bank of America cut their price objective on Blackstone from $199.00 to $189.00 in a report on Wednesday, December 10th. Ten analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Moderate Buy” and a consensus target price of $179.95.

Insiders Place Their Bets

In other Blackstone news, Director James Breyer bought 13,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was acquired at an average price of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the purchase, the director directly owned 68,906 shares of the company’s stock, valued at approximately $9,912,817.16. This trade represents a 25.27% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 384,468 shares of the company’s stock in a transaction on Friday, December 19th. The stock was acquired at an average cost of $26.01 per share, for a total transaction of $10,000,012.68. Following the completion of the purchase, the insider owned 16,525,117 shares of the company’s stock, valued at approximately $429,818,293.17. This trade represents a 2.38% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 797,148 shares of company stock worth $24,050,153 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Blackstone 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.