Rehmann Capital Advisory Group Has $3.30 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Rehmann Capital Advisory Group increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,567 shares of the asset manager’s stock after buying an additional 293 shares during the period. Rehmann Capital Advisory Group’s holdings in Blackstone were worth $3,303,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Lantz Financial LLC boosted its holdings in Blackstone by 11.7% in the second quarter. Lantz Financial LLC now owns 2,762 shares of the asset manager’s stock valued at $342,000 after acquiring an additional 290 shares during the last quarter. ORG Partners LLC raised its stake in Blackstone by 10,827.3% during the second quarter. ORG Partners LLC now owns 1,202 shares of the asset manager’s stock worth $147,000 after buying an additional 1,191 shares during the last quarter. Oak Ridge Investments LLC bought a new stake in Blackstone during the second quarter valued at $230,000. AdvisorNet Financial Inc lifted its stake in shares of Blackstone by 17.6% in the 2nd quarter. AdvisorNet Financial Inc now owns 7,118 shares of the asset manager’s stock valued at $881,000 after purchasing an additional 1,067 shares during the period. Finally, Red Door Wealth Management LLC grew its stake in Blackstone by 2.3% during the second quarter. Red Door Wealth Management LLC now owns 19,340 shares of the asset manager’s stock worth $2,394,000 after purchasing an additional 440 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

Shares of NYSE:BX opened at $189.56 on Wednesday. The company has a market capitalization of $136.86 billion, a P/E ratio of 65.14, a price-to-earnings-growth ratio of 1.59 and a beta of 1.51. 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 $112.09 and a fifty-two week high of $200.96. The company’s 50-day moving average is $173.07 and its 200 day moving average is $147.64.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. On average, equities research analysts forecast that Blackstone Inc. will post 4.4 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. Shareholders of record on Monday, October 28th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.81%. Blackstone’s dividend payout ratio is 118.21%.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the sale, the director now owns 799,749 shares of the company’s stock, 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. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BX shares. Redburn Atlantic initiated coverage on shares of Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective for the company. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. The Goldman Sachs Group raised their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their price target on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, UBS Group lifted their price objective on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $164.25.

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.