Hudock Inc. Buys 424 Shares of Blackstone Inc. (NYSE:BX)

Hudock Inc. increased its position in Blackstone Inc. (NYSE:BX) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,011 shares of the asset manager’s stock after purchasing an additional 424 shares during the quarter. Hudock Inc.’s holdings in Blackstone were worth $3,064,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BX. Vanguard Group Inc. lifted its stake in Blackstone by 2.0% in the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after buying an additional 1,290,324 shares during the period. Capital World Investors grew its holdings in Blackstone by 7.5% during the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after purchasing an additional 2,546,886 shares during the period. Wulff Hansen & CO. raised its holdings in Blackstone by 12,192.7% in the second 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. Legal & General Group Plc grew its holdings in shares of Blackstone by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after buying an additional 141,616 shares during the period. Finally, Janus Henderson Group PLC raised its stake 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 worth $613,581,000 after buying an additional 21,450 shares during the period. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BX. Wells Fargo & Company increased their price target on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Evercore ISI upped their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research report on Wednesday, October 9th. Bank of America lifted their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Barclays upped their price objective on Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research 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 stock. According to data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and an average price target of $155.38.

Insider Buying and Selling at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the 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. This trade represents 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 this link. In other news, insider John G. Finley sold 35,000 shares of the 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 completion of the transaction, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the 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 transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX traded down $0.04 during mid-day trading on Friday, reaching $169.62. The company’s stock had a trading volume of 236,054 shares, compared to its average volume of 3,433,314. The business has a 50-day simple moving average of $149.16 and a two-hundred day simple moving average of $134.15. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $175.94. The stock has a market cap of $121.22 billion, a P/E ratio of 59.95, 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be issued a dividend of $0.86 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 2.03%. Blackstone’s payout ratio is presently 121.55%.

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.