Blackstone Inc. (NYSE:BX) Shares Purchased by Altus Wealth Group LLC

Altus Wealth Group LLC lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 23.8% in the third quarter, HoldingsChannel reports. The firm owned 11,431 shares of the asset manager’s stock after acquiring an additional 2,200 shares during the period. Altus Wealth Group LLC’s holdings in Blackstone were worth $1,750,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wulff Hansen & CO. grew its stake 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 acquiring an additional 7,281,128 shares during the period. Capital World Investors grew its stake in shares of Blackstone by 7.5% during the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after buying an additional 2,546,886 shares during the period. Lazard Asset Management LLC grew its stake in shares of Blackstone by 19,048.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock valued at $247,423,000 after buying an additional 1,873,573 shares during the period. Vanguard Group Inc. grew its stake in shares of Blackstone by 2.0% during the 1st 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. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Blackstone by 213.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock valued at $170,345,000 after buying an additional 937,084 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Blackstone Stock Up 0.5 %

Shares of Blackstone stock traded up $0.92 during trading on Wednesday, reaching $169.42. The company had a trading volume of 440,522 shares, compared to its average volume of 3,434,479. The company has a market cap of $121.08 billion, a price-to-earnings ratio of 59.53, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The firm’s fifty day moving average is $148.54 and its 200-day moving average is $133.92. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $175.94.

Blackstone Increases Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BX shares. UBS Group lifted their target price on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Redburn Atlantic started coverage on shares of Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. BMO Capital Markets lifted their target price on shares of Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Citigroup lifted their target price on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” 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’s stock. According to MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus price target of $155.38.

Blackstone Profile

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.