Aaron Wealth Advisors LLC Has $304,000 Holdings in Blackstone Inc. (NYSE:BX)

Aaron Wealth Advisors LLC increased its position in Blackstone Inc. (NYSE:BX) by 21.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,985 shares of the asset manager’s stock after acquiring an additional 355 shares during the period. Aaron Wealth Advisors LLC’s holdings in Blackstone were worth $304,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BX. Wealth Enhancement Advisory Services LLC boosted its holdings in Blackstone by 1.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after purchasing an additional 7,692 shares in the last quarter. Norden Group LLC raised its stake in shares of Blackstone by 2,072.0% in the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after acquiring an additional 34,872 shares in the last quarter. Fisher Asset Management LLC boosted its position in Blackstone by 10.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock worth $614,000 after purchasing an additional 459 shares during the period. Global Assets Advisory LLC bought a new position in shares of Blackstone in the first quarter valued at approximately $65,050,000. Finally, Blue Trust Inc. boosted its holdings in shares of Blackstone by 936.2% during the 2nd quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock worth $783,000 after buying an additional 5,383 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Performance

Blackstone stock opened at $172.36 on Friday. The stock has a fifty day moving average price of $147.01 and a two-hundred day moving average price of $133.27. 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 52-week low of $88.59 and a 52-week high of $175.94. The firm has a market capitalization of $123.18 billion, a P/E ratio of 60.90, a P/E/G ratio of 1.24 and a beta of 1.51.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 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%. The firm’s revenue was up 166.9% on a year-over-year basis. During the same quarter last year, the company earned $0.93 earnings per share. As a group, analysts anticipate that Blackstone Inc. will post 4.46 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors 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 dividend yield of 2.00%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, October 28th. Blackstone’s payout ratio is currently 115.90%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BX. JPMorgan Chase & Co. raised their price target on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday. Citigroup increased their price objective on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Evercore ISI boosted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, UBS Group lifted their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $152.41.

Insiders Place Their Bets

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

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.