J.W. Cole Advisors Inc. Purchases 434 Shares of Blackstone Inc. (NYSE:BX)

J.W. Cole Advisors Inc. boosted its position in Blackstone Inc. (NYSE:BX) by 1.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 23,815 shares of the asset manager’s stock after acquiring an additional 434 shares during the period. J.W. Cole Advisors Inc.’s holdings in Blackstone were worth $3,647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BX. Wulff Hansen & CO. increased its position in shares of Blackstone by 12,192.7% during the second 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. International Assets Investment Management LLC increased its position in shares of Blackstone by 15,357.3% during the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after buying an additional 4,173,971 shares during the period. Capital World Investors increased its position in shares of Blackstone by 7.5% during the first 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 increased its position in shares of 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 purchasing an additional 1,873,573 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Blackstone by 2.0% in the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after purchasing an additional 1,290,324 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BX has been the subject of several research reports. The Goldman Sachs Group upped their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Piper Sandler lowered Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target for the company. in a research note on Wednesday, October 9th. BMO Capital Markets raised their price target on Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, Evercore ISI increased their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $155.38.

Insider Buying and Selling

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction 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 sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction 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 directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Down 1.3 %

Shares of BX opened at $167.50 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $175.94. The stock’s 50 day moving average is $150.49 and its two-hundred day moving average is $134.74. The firm has a market cap of $119.70 billion, a P/E ratio of 59.19, a PEG ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

The company also recently declared 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. 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. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.05%. Blackstone’s payout ratio is currently 121.55%.

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.