Elwood & Goetz Wealth Advisory Group LLC Makes New Investment in Blackstone Inc. (NYSE:BX)

Elwood & Goetz Wealth Advisory Group LLC bought a new position in shares of Blackstone Inc. (NYSE:BX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,357 shares of the asset manager’s stock, valued at approximately $361,000.

Other institutional investors have also bought and sold shares of the company. Wulff Hansen & CO. lifted its position in shares of Blackstone by 12,192.7% during the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after acquiring an additional 7,281,128 shares during the period. International Assets Investment Management LLC boosted its position in shares of Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares in the last quarter. Capital World Investors increased its position in Blackstone by 7.5% in 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 in the last quarter. Lazard Asset Management LLC boosted its holdings in Blackstone by 19,048.1% in the first quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock worth $247,423,000 after acquiring an additional 1,873,573 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Blackstone by 2.0% during 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 acquiring an additional 1,290,324 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In other news, 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 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. 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 can be accessed through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction 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 transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated 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 approximately $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Blackstone Stock Down 1.3 %

Shares of NYSE BX opened at $167.50 on Friday. Blackstone Inc. has a one year low of $88.59 and a one year high of $175.94. The business’s fifty day moving average price is $149.82 and its 200-day moving average price is $134.39. The stock has a market capitalization of $119.70 billion, a PE ratio of 59.19, a P/E/G ratio of 1.24 and a beta of 1.51. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders 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 annualized dividend and a dividend yield of 2.05%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is 121.55%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BX. JPMorgan Chase & Co. lifted their price target on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Morgan Stanley lifted their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group raised their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, TD Cowen increased their price target on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and a consensus target price 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.