Middleton & Co. Inc. MA Takes Position in Blackstone Inc. (NYSE:BX)

Middleton & Co. Inc. MA purchased a new stake in shares of Blackstone Inc. (NYSE:BX) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 1,500 shares of the asset manager’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Raleigh Capital Management Inc. boosted its stake in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares during the last quarter. Trust Co. of Vermont boosted its stake in Blackstone by 3.1% in the third quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock valued at $343,000 after acquiring an additional 67 shares during the last quarter. CVA Family Office LLC boosted its stake in Blackstone by 6.4% in the third quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock valued at $187,000 after acquiring an additional 73 shares during the last quarter. Moseley Investment Management Inc. boosted its stake in Blackstone by 0.7% in the second quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock valued at $1,391,000 after acquiring an additional 74 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its stake in Blackstone by 0.6% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after acquiring an additional 80 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Evercore ISI lifted their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Barclays lifted their price target on shares of Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $155.38.

Blackstone Stock Down 1.3 %

Shares of BX stock opened at $167.50 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $175.94. The firm’s fifty day moving average price is $149.82 and its two-hundred day moving average price is $134.39. The firm has a market capitalization of $119.70 billion, a P/E ratio of 59.19, a PEG ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is 121.55%.

Insider Activity

In other news, 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 completion of the transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $17,561,522.88. Following the sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

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.