Earned Wealth Advisors LLC Has $467,000 Stake in Blackstone Inc. $BX

Earned Wealth Advisors LLC lessened its stake in Blackstone Inc. (NYSE:BX) by 5.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,124 shares of the asset manager’s stock after selling 190 shares during the period. Earned Wealth Advisors LLC’s holdings in Blackstone were worth $467,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kera Capital Partners Inc. bought a new position in Blackstone during the 2nd quarter worth approximately $273,000. Sandy Cove Advisors LLC boosted its position in shares of Blackstone by 22.1% during the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock worth $1,801,000 after purchasing an additional 2,182 shares in the last quarter. Bourgeon Capital Management LLC acquired a new position in shares of Blackstone in the 2nd quarter valued at $423,000. Redmond Asset Management LLC lifted its holdings in Blackstone by 21.2% during the second quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock worth $2,810,000 after acquiring an additional 3,281 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its holdings in shares of Blackstone by 14.5% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock worth $2,056,000 after acquiring an additional 1,863 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Down 0.3%

Shares of BX stock opened at $148.42 on Friday. The firm has a 50 day moving average price of $168.98 and a two-hundred day moving average price of $156.52. The company has a market capitalization of $109.40 billion, a PE ratio of 42.40, a price-to-earnings-growth ratio of 1.18 and a beta of 1.77. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The firm had revenue of $2.49 billion for the quarter. As a group, analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be given a dividend of $1.29 per share. This is an increase from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, November 3rd. Blackstone’s dividend payout ratio (DPR) is currently 147.43%.

Insider Transactions at Blackstone

In other Blackstone news, Director Joseph Baratta sold 113,000 shares of the firm’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total value of $19,852,970.00. Following the transaction, the director directly owned 695,757 shares of the company’s stock, valued at $122,237,547.33. This trade represents a 13.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Private Multi-Asset Blackstone purchased 2,538,071 shares of Blackstone stock in a transaction that occurred on Monday, September 22nd. The shares were purchased at an average price of $25.61 per share, for a total transaction of $64,999,998.31. Following the transaction, the insider directly owned 7,506,209 shares in the company, valued at $192,234,012.49. This represents a 51.09% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BX shares. Barclays decreased their price objective on Blackstone from $171.00 to $165.00 and set an “equal weight” rating for the company in a research report on Friday, October 24th. Keefe, Bruyette & Woods lowered their price objective on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a research report on Monday, October 13th. BMO Capital Markets cut their price target on Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday. TD Cowen cut their price target on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Finally, BNP Paribas Exane cut their price objective on Blackstone from $178.00 to $167.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Eleven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.74.

Blackstone 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.