Fairscale Capital LLC Has $689,000 Stock Position in Blackstone Inc. (NYSE:BX)

Fairscale Capital LLC reduced its position in shares of Blackstone Inc. (NYSE:BX) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,502 shares of the asset manager’s stock after selling 87 shares during the quarter. Fairscale Capital LLC’s holdings in Blackstone were worth $689,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. West Financial Advisors LLC purchased a new stake in shares of Blackstone in the third quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Blackstone in the second quarter worth approximately $26,000. EdgeRock Capital LLC purchased a new stake in shares of Blackstone in the second quarter worth approximately $27,000. Bank & Trust Co purchased a new stake in shares of Blackstone in the second quarter worth approximately $29,000. Finally, Ridgewood Investments LLC bought a new position in shares of Blackstone in the second quarter valued at approximately $31,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BX shares. Evercore ISI upped their target price on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their target price on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Barclays upped their target price on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Cowen reissued a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Finally, The Goldman Sachs Group increased their price objective on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $157.63.

Blackstone Price Performance

Blackstone stock opened at $199.05 on Friday. The firm has a market capitalization of $143.71 billion, a P/E ratio of 68.40, a PEG ratio of 1.65 and a beta of 1.49. Blackstone Inc. has a one year low of $105.51 and a one year high of $199.95. The business has a fifty day moving average price of $165.86 and a 200-day moving average price of $142.62. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, equities research analysts forecast that Blackstone Inc. will post 4.4 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a dividend of $0.86 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 1.73%. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares in the company, valued at approximately $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 accessible through this hyperlink. 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 transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

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.