Financial Advocates Investment Management Buys 372 Shares of Blackstone Inc. (NYSE:BX)

Financial Advocates Investment Management increased its stake in Blackstone Inc. (NYSE:BX) by 5.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wulff Hansen & CO. raised its position in Blackstone by 12,192.7% in the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after purchasing an additional 7,281,128 shares during the period. International Assets Investment Management LLC boosted its holdings in Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after acquiring an additional 4,173,971 shares during the period. Capital World Investors increased its stake in Blackstone by 7.5% in the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after purchasing an additional 2,546,886 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Blackstone by 19,048.1% during the first quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock valued at $247,423,000 after purchasing an additional 1,873,573 shares during the period. Finally, 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 buying an additional 1,290,324 shares during the period. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 0.2 %

Blackstone stock opened at $168.14 on Friday. 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 $153.90 and a 200 day moving average price of $136.17. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $121.07 billion, a price-to-earnings ratio of 57.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.51.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.05%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BX shares. Piper Sandler lowered 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 increased their target price on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley upped their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group boosted their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, UBS Group lifted their price objective on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Blackstone has an average rating of “Hold” and a consensus target price of $155.38.

Insider Buying and Selling

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’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 value of $17,561,522.88. Following the sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 value of $17,561,522.88. Following the transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents 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.

About Blackstone

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.