Capital Advisors Ltd. LLC Boosts Holdings in Blackstone Inc. (NYSE:BX)

Capital Advisors Ltd. LLC grew its position in shares of Blackstone Inc. (NYSE:BX) by 2.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,787 shares of the asset manager’s stock after purchasing an additional 62 shares during the period. Capital Advisors Ltd. LLC’s holdings in Blackstone were worth $427,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Frank Rimerman Advisors LLC increased its stake in shares of Blackstone by 1.4% in the third quarter. Frank Rimerman Advisors LLC now owns 14,178 shares of the asset manager’s stock worth $2,171,000 after buying an additional 189 shares during the last quarter. TCV Trust & Wealth Management Inc. bought a new stake in shares of Blackstone in the third quarter worth $230,000. MCF Advisors LLC increased its stake in shares of Blackstone by 10.7% in the third quarter. MCF Advisors LLC now owns 1,203 shares of the asset manager’s stock worth $184,000 after buying an additional 116 shares during the last quarter. Covenant Partners LLC bought a new stake in shares of Blackstone in the third quarter worth $290,000. Finally, PFG Investments LLC increased its stake in shares of Blackstone by 0.4% in the third quarter. PFG Investments LLC now owns 26,519 shares of the asset manager’s stock worth $4,061,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity

In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the company’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 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 trade represents 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 corporate insiders.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Citigroup lifted their price objective on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets lifted their price objective on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Redburn Atlantic initiated coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective for the company. Finally, Wells Fargo & Company lifted 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. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average price target of $155.38.

Blackstone Price Performance

NYSE BX opened at $167.50 on Friday. The stock’s 50-day moving average price is $150.49 and its two-hundred day moving average price is $134.68. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The company has a market cap of $119.70 billion, a PE ratio of 59.19, a PEG ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $175.94.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be issued a $0.86 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.05%. Blackstone’s dividend payout ratio is currently 121.55%.

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.