Curi RMB Capital LLC Has $623,000 Holdings in Blackstone Inc. (NYSE:BX)

17 Nov 2024, 09:46 by Tristan Rich · The Markets Daily

Curi RMB Capital LLC reduced its position in shares of Blackstone Inc. (NYSE:BX – Free Report) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,071 shares of the asset manager’s stock after selling 154 shares during the period. Curi RMB Capital LLC’s holdings in Blackstone were worth $623,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone in the 2nd quarter valued at about $26,000. EdgeRock Capital LLC acquired a new position in shares of Blackstone during the 2nd quarter worth approximately $27,000. West Financial Advisors LLC acquired a new stake in shares of Blackstone in the 3rd quarter valued at approximately $27,000. Bank & Trust Co acquired a new position in Blackstone during the second quarter worth $29,000. Finally, Ridgewood Investments LLC bought a new position in Blackstone during the second quarter worth about $31,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity

In other news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 12.71 % 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.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BX. JPMorgan Chase & Co. boosted their target price on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Redburn Atlantic assumed coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. TD Cowen boosted their target price on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Finally, Citigroup lifted their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $157.63.

Check Out Our Latest Report on Blackstone

Blackstone Trading Up 0.1 %

Shares of NYSE BX opened at $181.41 on Friday. The stock has a market cap of $130.98 billion, a P/E ratio of 62.34, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49. The firm has a 50 day moving average price of $161.40 and a two-hundred day moving average price of $140.02. 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 52-week low of $102.79 and a 52-week high of $184.34.

Blackstone (NYSE:BX – Get Free Report) last announced its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. As a group, equities analysts forecast that Blackstone Inc. will post 4.39 EPS for the current year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.90%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is 118.21%.

Blackstone Company Profile

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