Blackstone Inc. (NYSE:BX) Stock Position Lifted by Hedeker Wealth LLC

Hedeker Wealth LLC boosted its position in shares of Blackstone Inc. (NYSE:BX) by 1.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 39,259 shares of the asset manager’s stock after buying an additional 733 shares during the period. Blackstone accounts for 1.6% of Hedeker Wealth LLC’s investment portfolio, making the stock its 22nd largest position. Hedeker Wealth LLC’s holdings in Blackstone were worth $6,012,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of BX. Wealth Enhancement Advisory Services LLC boosted its position in shares of Blackstone by 1.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after purchasing an additional 7,692 shares during the period. Norden Group LLC boosted its position in shares of Blackstone by 2,072.0% in the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after purchasing an additional 34,872 shares during the period. Blue Trust Inc. boosted its position in shares of Blackstone by 936.2% in the 2nd quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock valued at $783,000 after purchasing an additional 5,383 shares during the period. Carret Asset Management LLC boosted its position in shares of Blackstone by 20.9% in the 1st quarter. Carret Asset Management LLC now owns 46,645 shares of the asset manager’s stock valued at $6,128,000 after purchasing an additional 8,050 shares during the period. Finally, Scientech Research LLC acquired a new position in shares of Blackstone in the 2nd quarter valued at $1,364,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock traded down $0.98 during trading on Tuesday, reaching $168.99. The company had a trading volume of 377,186 shares, compared to its average volume of 3,424,615. The firm’s 50 day simple moving average is $151.19 and its two-hundred day simple moving average is $135.04. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. Blackstone Inc. has a one year low of $90.43 and a one year high of $175.94. The company has a market capitalization of $120.77 billion, a PE ratio of 60.07, a PEG ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a $0.86 dividend. The ex-dividend date of this dividend is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 2.04%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is 121.55%.

Insider Buying and Selling at Blackstone

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BX. Morgan Stanley increased 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. BMO Capital Markets increased their price objective on Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Evercore ISI increased their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.