Mutual Advisors LLC Raises Stake in Blackstone Inc. (NYSE:BX)

Mutual Advisors LLC increased its position in Blackstone Inc. (NYSE:BX) by 2.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,951 shares of the asset manager’s stock after buying an additional 452 shares during the quarter. Mutual Advisors LLC’s holdings in Blackstone were worth $2,706,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norden Group LLC boosted its stake in Blackstone by 2,072.0% in the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock worth $4,802,000 after purchasing an additional 34,872 shares during the period. First Trust Direct Indexing L.P. boosted its position in shares of Blackstone by 32.0% during the first quarter. First Trust Direct Indexing L.P. now owns 11,786 shares of the asset manager’s stock worth $1,548,000 after acquiring an additional 2,858 shares during the last quarter. Veracity Capital LLC increased its holdings in Blackstone by 3.8% in the 1st quarter. Veracity Capital LLC now owns 3,152 shares of the asset manager’s stock valued at $414,000 after acquiring an additional 114 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Blackstone by 0.9% during the 1st quarter. Maryland State Retirement & Pension System now owns 55,949 shares of the asset manager’s stock valued at $6,826,000 after purchasing an additional 474 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its holdings in shares of Blackstone by 27.4% in the first quarter. Ashton Thomas Private Wealth LLC now owns 20,585 shares of the asset manager’s stock worth $2,704,000 after purchasing an additional 4,430 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling

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 in the company, 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 SEC, which can be accessed through this hyperlink. In other news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 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. 1.00% of the stock is owned by insiders.

Blackstone Stock Up 1.0 %

Shares of NYSE BX opened at $171.55 on Thursday. The stock has a 50 day moving average price of $152.67 and a 200 day moving average price of $135.62. The firm has a market capitalization of $122.60 billion, a price-to-earnings ratio of 60.62, a PEG ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 52-week low of $91.14 and a 52-week high of $175.94. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be paid a dividend of $0.86 per share. The ex-dividend date is Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 2.01%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is currently 121.55%.

Analyst Upgrades and Downgrades

BX has been the topic of a number of research reports. TD Cowen lifted their price objective on Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. BMO Capital Markets upped their price target on shares of Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research report on Wednesday, October 9th. Citigroup boosted their price objective on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, UBS Group boosted their target price on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $155.38.

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.