Taylor & Morgan Wealth Management LLC Purchases Shares of 1,442 Blackstone Inc. (NYSE:BX)

Taylor & Morgan Wealth Management LLC bought a new position in Blackstone Inc. (NYSE:BX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,442 shares of the asset manager’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds have also modified their holdings of BX. Wulff Hansen & CO. raised its position in Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after acquiring an additional 7,281,128 shares in the last quarter. International Assets Investment Management LLC grew its holdings 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 valued at $6,433,220,000 after purchasing an additional 4,173,971 shares during the last quarter. Capital World Investors grew its holdings 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 purchasing an additional 2,546,886 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Blackstone by 19,048.1% during the 1st 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 during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Blackstone by 2.0% in the 1st 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 period. 70.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on BX. JPMorgan Chase & Co. boosted their target price 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. Morgan Stanley increased their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. The Goldman Sachs Group increased their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets increased their price target 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. Finally, TD Cowen raised their target price on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research note on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average target price of $155.38.

Insiders Place Their Bets

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 stock was 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other 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 completion of the sale, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. 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 is available at the SEC website. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction 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 transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Trading Up 0.8 %

Blackstone stock traded up $1.28 during trading on Monday, reaching $168.78. 571,315 shares of the company were exchanged, compared to its average volume of 3,432,030. Blackstone Inc. has a 52-week low of $90.43 and a 52-week high of $175.94. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $120.62 billion, a P/E ratio of 59.19, a PEG ratio of 1.24 and a beta of 1.51. The stock’s 50 day simple moving average is $150.49 and its two-hundred day simple moving average is $134.74.

Blackstone Increases Dividend

The company also recently announced 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 is a positive change 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 annualized dividend and a yield of 2.04%. Blackstone’s dividend payout ratio is presently 121.55%.

Blackstone Company 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.