Blackstone Inc. (NYSE:BX) Stake Increased by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 15,294.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 236,453 shares of the asset manager’s stock after purchasing an additional 234,917 shares during the period. Pathway Financial Advisers LLC’s holdings in Blackstone were worth $36,208,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Mutual Advisors LLC increased its stake in Blackstone by 2.9% during the third quarter. Mutual Advisors LLC now owns 15,951 shares of the asset manager’s stock valued at $2,706,000 after purchasing an additional 452 shares during the last quarter. Avitas Wealth Management LLC lifted its holdings in Blackstone by 1.5% in the third quarter. Avitas Wealth Management LLC now owns 30,030 shares of the asset manager’s stock worth $4,598,000 after purchasing an additional 445 shares during the period. Childress Capital Advisors LLC acquired a new stake in Blackstone during the 3rd quarter worth about $258,000. Fidelis Capital Partners LLC raised its holdings in Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after buying an additional 62 shares during the period. Finally, Valmark Advisers Inc. raised its holdings in Blackstone by 5.4% during the 3rd quarter. Valmark Advisers Inc. now owns 3,958 shares of the asset manager’s stock worth $606,000 after buying an additional 202 shares during the period. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 0.1 %

Shares of Blackstone stock opened at $169.81 on Wednesday. The stock has a market capitalization of $121.35 billion, a P/E ratio of 60.00, a PEG ratio of 1.24 and a beta of 1.51. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $151.93 and a two-hundred day moving average price of $135.37. Blackstone Inc. has a 12-month low of $90.43 and a 12-month high of $175.94.

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 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 yield of 2.03%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is presently 121.55%.

Analysts Set New Price Targets

Several research firms have issued reports on BX. Morgan Stanley boosted their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Bank of America boosted their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. upped their target price on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company upped their target price on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, TD Cowen upped their target price on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $155.38.

Insiders Place Their Bets

In other news, insider John G. Finley sold 35,000 shares of the 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 of the company’s stock, valued at approximately $56,567,311.64. This 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 can be accessed through this hyperlink. In other news, insider John G. Finley sold 35,000 shares of the 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 of the company’s stock, valued at approximately $56,567,311.64. This 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 can be accessed through this hyperlink. 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 completion of the sale, the director now directly 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. Company insiders own 1.00% of the company’s stock.

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.