Mutual Advisors LLC Acquires 452 Shares of Blackstone Inc. (NYSE:BX)

Mutual Advisors LLC raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,951 shares of the asset manager’s stock after buying an additional 452 shares during the period. Mutual Advisors LLC’s holdings in Blackstone were worth $2,706,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of BX. Vanguard Group Inc. increased its stake in Blackstone by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after purchasing an additional 1,290,324 shares during the period. Capital World Investors boosted its position in Blackstone by 7.5% during the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after buying an additional 2,546,886 shares during the period. Wulff Hansen & CO. increased its position in shares of Blackstone by 12,192.7% in the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after acquiring an additional 7,281,128 shares during the period. Legal & General Group Plc boosted its holdings in shares of Blackstone by 2.3% during the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock worth $775,758,000 after purchasing an additional 141,616 shares during the period. Finally, Janus Henderson Group PLC raised its position in Blackstone by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock valued at $613,581,000 after purchasing an additional 21,450 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 1.0 %

Blackstone stock opened at $171.55 on Thursday. The firm has a market cap of $122.60 billion, a price-to-earnings ratio of 60.62, a PEG ratio of 1.24 and a beta of 1.51. 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 12 month low of $91.14 and a 12 month high of $175.94. The stock has a fifty day simple moving average of $152.67 and a two-hundred day simple moving average of $135.62.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.01%. 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 presently 121.55%.

Analyst Ratings Changes

BX has been the topic of several research analyst reports. Redburn Atlantic started coverage on Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. The Goldman Sachs Group upped their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Morgan Stanley lifted their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus target price of $155.38.

Insider Activity

In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on 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 directly owns 429,386 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on 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. 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 corporate insiders.

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.