Blackstone Inc. (NYSE:BX) Shares Purchased by Carret Asset Management LLC

Carret Asset Management LLC increased its position in shares of Blackstone Inc. (NYSE:BX) by 0.2% during the third quarter, Holdings Channel reports. The fund owned 47,431 shares of the asset manager’s stock after acquiring an additional 111 shares during the quarter. Carret Asset Management LLC’s holdings in Blackstone were worth $7,263,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. 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. 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. Wulff Hansen & CO. grew its stake 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 buying an additional 7,281,128 shares during the period. Legal & General Group Plc boosted its position in Blackstone by 2.3% during the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock worth $775,758,000 after purchasing an additional 141,616 shares during the period. Finally, Janus Henderson Group PLC boosted its position 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 purchasing an additional 21,450 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX opened at $167.50 on Friday. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $175.94. The stock has a market cap of $119.70 billion, a P/E ratio of 59.19, a P/E/G ratio of 1.24 and a beta of 1.51. The firm’s 50-day simple moving average is $150.49 and its 200 day simple moving average is $134.68. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is currently 121.55%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BX shares. Barclays upped their price target on shares of Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a report on Wednesday, October 9th. Bank of America boosted their price objective on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Wells Fargo & Company boosted their price objective on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Redburn Atlantic began coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective on the stock. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average target price of $155.38.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. This trade 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 is available through the SEC website. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone 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 transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred on 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 in the company, 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 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.