Hazlett Burt & Watson Inc. Has $43,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

Hazlett Burt & Watson Inc. raised its position in shares of Blackstone Inc. (NYSE:BX) by 57.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 276 shares of the asset manager’s stock after purchasing an additional 101 shares during the quarter. Hazlett Burt & Watson Inc.’s holdings in Blackstone were worth $43,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BX. Wealth Enhancement Advisory Services LLC raised its position in shares of Blackstone by 1.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after acquiring an additional 7,692 shares in the last quarter. Blue Trust Inc. lifted its stake in Blackstone by 936.2% in the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock valued at $783,000 after buying an additional 5,383 shares during the period. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Blackstone during the 3rd quarter worth approximately $557,000. Scientech Research LLC bought a new stake in shares of Blackstone in the 2nd quarter valued at $1,364,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Blackstone by 11.3% in the second quarter. EverSource Wealth Advisors LLC now owns 54,159 shares of the asset manager’s stock worth $6,705,000 after purchasing an additional 5,479 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX opened at $167.04 on Tuesday. The company has a market capitalization of $120.28 billion, a price-to-earnings ratio of 57.40, a price-to-earnings-growth ratio of 1.44 and a beta of 1.49. Blackstone Inc. has a 52-week low of $96.15 and a 52-week high of $175.94. The stock has a 50 day moving average price of $154.40 and a 200 day moving average price of $136.69. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were given a dividend of $0.86 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s dividend payout ratio is presently 118.21%.

Insider Transactions at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of the business’s 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 sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 35,000 shares of the business’s 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 sale, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BX. Cowen reissued a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Wells Fargo & Company boosted their price objective on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. TD Cowen boosted their price objective on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a report on Friday, October 18th. Citigroup boosted their target price on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. boosted their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $155.38.

Blackstone 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.