Ballentine Partners LLC Buys 2,413 Shares of Blackstone Inc. (NYSE:BX)

Ballentine Partners LLC grew its stake in shares of Blackstone Inc. (NYSE:BX) by 25.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,718 shares of the asset manager’s stock after purchasing an additional 2,413 shares during the period. Ballentine Partners LLC’s holdings in Blackstone were worth $1,794,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Heritage Oak Wealth Advisors LLC bought a new position in shares of Blackstone in the 3rd quarter worth approximately $254,000. Moody Lynn & Lieberson LLC lifted its position in Blackstone by 0.9% during the third quarter. Moody Lynn & Lieberson LLC now owns 276,832 shares of the asset manager’s stock valued at $42,391,000 after buying an additional 2,351 shares during the period. Element Wealth LLC grew its position in shares of Blackstone by 3.2% in the 3rd quarter. Element Wealth LLC now owns 7,974 shares of the asset manager’s stock worth $1,221,000 after buying an additional 246 shares during the period. Harbour Trust & Investment Management Co lifted its position in Blackstone by 5.3% during the 3rd quarter. Harbour Trust & Investment Management Co now owns 60,226 shares of the asset manager’s stock valued at $9,222,000 after acquiring an additional 3,049 shares during the period. Finally, Spirit of America Management Corp NY grew its holdings in Blackstone by 1.7% in the third quarter. Spirit of America Management Corp NY now owns 11,750 shares of the asset manager’s stock worth $1,799,000 after purchasing an additional 200 shares during the period. 70.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on BX. Cowen restated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Redburn Atlantic initiated coverage on Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target for the company. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research report on Wednesday, October 9th. The Goldman Sachs Group upped their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft boosted 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. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $155.38.

Blackstone Stock Down 1.3 %

Shares of BX stock opened at $167.50 on Friday. The company has a 50 day simple moving average of $149.82 and a two-hundred day simple moving average of $134.39. 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. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $175.94. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a 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 payout ratio is currently 121.55%.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate 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.