Blackstone Inc. (NYSE:BX) Shares Bought by Financial Advocates Investment Management

Financial Advocates Investment Management lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 5.9% during the 3rd quarter, Holdings Channel reports. The fund owned 6,681 shares of the asset manager’s stock after buying an additional 372 shares during the quarter. Financial Advocates Investment Management’s holdings in Blackstone were worth $1,023,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. 1620 Investment Advisors Inc. increased its holdings in shares of Blackstone by 2.6% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 4,984 shares of the asset manager’s stock worth $763,000 after buying an additional 124 shares during the last quarter. SteelPeak Wealth LLC increased its stake in Blackstone by 0.8% during the third quarter. SteelPeak Wealth LLC now owns 34,247 shares of the asset manager’s stock worth $5,244,000 after acquiring an additional 288 shares during the last quarter. Diversify Wealth Management LLC lifted its stake in shares of Blackstone by 11.6% in the 3rd quarter. Diversify Wealth Management LLC now owns 13,150 shares of the asset manager’s stock valued at $2,195,000 after purchasing an additional 1,366 shares during the last quarter. Pinnacle Associates Ltd. increased its position in shares of Blackstone by 1.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 192,054 shares of the asset manager’s stock worth $29,409,000 after purchasing an additional 2,552 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its holdings in Blackstone by 27.1% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 17,563 shares of the asset manager’s stock valued at $2,689,000 after buying an additional 3,745 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction on 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 transaction, the director now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred 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 transaction, 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 is accessible through the SEC website. Also, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE:BX opened at $168.14 on Friday. 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 one year low of $96.15 and a one year high of $175.94. The company has a 50-day simple moving average of $153.90 and a 200-day simple moving average of $136.17. The stock has a market capitalization of $121.07 billion, a price-to-earnings ratio of 57.78, a PEG ratio of 1.47 and a beta of 1.51.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be paid a $0.86 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Analyst Ratings Changes

A number of research firms have recently issued reports on BX. BMO Capital Markets boosted 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. Bank of America upped their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. TD Cowen boosted their price objective on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday, October 18th. Redburn Atlantic started coverage on Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price for the company. Finally, Morgan Stanley raised their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently 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.