Blackstone Inc. Sees Stock Adjustments and Dividend Increase

Blackstone Inc. (NYSE:BX), a leading alternative asset management firm, has recently experienced significant movements in its stock holdings and dividend payouts. In the third quarter, South Street Advisors LLC reduced its position in Blackstone Inc. by 4.9%, selling 5,654 shares and leaving the firm with 109,307 shares. This adjustment represents approximately 2.5% of South Street Advisors LLC’s holdings, making Blackstone the 16th largest position in their portfolio[5].

In terms of financial performance, Blackstone Inc. reported strong earnings for the quarter ending October 17th. The company posted $1.01 earnings per share (EPS), surpassing analysts’ consensus estimates of $0.91 by $0.10. Blackstone also exceeded revenue expectations, reporting $2.43 billion for the quarter compared to the anticipated $2.37 billion. The firm’s return on equity was 17.53%, and it had a net margin of 19.46%[5].

Additionally, Blackstone Inc. has increased its quarterly dividend. Stockholders of record as of October 28th received a dividend of $0.86 per share, paid on November 4th. This represents an annualized dividend of $3.44 and a dividend yield of 1.90%, marking an increase from the previous quarterly dividend of $0.82[5].

In other news, insider John G. Finley sold 42,249 shares of Blackstone stock on November 7th at an average price of $175.94, resulting in a total value of $7,433,289.06. This transaction reduced Finley’s ownership in the company by 12.71%[5].

Blackstone Inc. is an alternative asset management firm that specializes in various investment strategies, including real estate, private equity, hedge fund solutions, and more. The company’s diverse investment portfolio and recent financial performance continue to be closely watched by investors and analysts.