Catalyst Capital Advisors LLC Invests $68,000 in Blackstone Inc. (NYSE:BX)

Catalyst Capital Advisors LLC acquired a new stake in shares of Blackstone Inc. (NYSE:BX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 444 shares of the asset manager’s stock, valued at approximately $68,000.

Other hedge funds have also made changes to their positions in the company. West Financial Advisors LLC acquired a new position in shares of Blackstone during the 3rd quarter valued at about $27,000. Chilton Capital Management LLC acquired a new position in shares of Blackstone during the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Blackstone during the 2nd quarter valued at about $26,000. EdgeRock Capital LLC acquired a new stake in Blackstone in the 2nd quarter valued at approximately $27,000. Finally, Bank & Trust Co acquired a new stake in Blackstone in the 2nd quarter valued at approximately $29,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BX. UBS Group raised their target price on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. BMO Capital Markets raised their target price on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Bank of America lifted their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Piper Sandler lowered Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a report on Wednesday, October 9th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $155.38.

Insider Buying and Selling at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the business’s 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 completion of the sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Up 4.0 %

Shares of BX opened at $176.38 on Thursday. The stock has a fifty day moving average price of $155.70 and a two-hundred day moving average price of $137.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. Blackstone Inc. has a 52-week low of $96.15 and a 52-week high of $178.30. The company has a market cap of $127.01 billion, a price-to-earnings ratio of 60.61, a PEG ratio of 1.44 and a beta of 1.49.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were given a $0.86 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 1.95%. Blackstone’s payout ratio is presently 118.21%.

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.