Global Assets Advisory LLC Makes New Investment in Blackstone Inc. (NYSE:BX)

Global Assets Advisory LLC bought a new position in shares of Blackstone Inc. (NYSE:BX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,938 shares of the asset manager’s stock, valued at approximately $598,000.

Several other hedge funds have also recently bought and sold shares of BX. Raleigh Capital Management Inc. raised its position in shares of Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares during the last quarter. Trust Co. of Vermont increased its position in shares of Blackstone by 3.1% in the 3rd quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock valued at $343,000 after buying an additional 67 shares in the last quarter. CVA Family Office LLC increased its position in shares of Blackstone by 6.4% in the 3rd quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock valued at $187,000 after buying an additional 73 shares in the last quarter. Moseley Investment Management Inc. increased its position in shares of Blackstone by 0.7% in the 2nd quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock valued at $1,391,000 after buying an additional 74 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. increased its position in shares of Blackstone by 0.6% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after buying an additional 80 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 35,000 shares of Blackstone 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 transaction, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction 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 completion of the transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This 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 company insiders.

Blackstone Stock Performance

Shares of Blackstone stock opened at $166.92 on Thursday. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $175.94. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market capitalization of $119.29 billion, a P/E ratio of 58.98, a P/E/G ratio of 1.24 and a beta of 1.51. The company’s 50 day moving average price is $149.16 and its two-hundred day moving average price is $134.15.

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 given a $0.86 dividend. The ex-dividend date is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 2.06%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is currently 121.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BX shares. Deutsche Bank Aktiengesellschaft upped their target price 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. JPMorgan Chase & Co. upped their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. UBS Group raised their target price on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Cowen reissued a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Finally, The Goldman Sachs Group increased their price target on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Thirteen research 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.com, Blackstone presently has a consensus rating of “Hold” and a consensus price target of $155.38.

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.