Blackstone Inc. (NYSE:BX) Shares Acquired by Hedeker Wealth LLC

Hedeker Wealth LLC boosted its position in Blackstone Inc. (NYSE:BX) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,259 shares of the asset manager’s stock after buying an additional 733 shares during the period. Blackstone makes up about 1.6% of Hedeker Wealth LLC’s holdings, making the stock its 22nd biggest position. Hedeker Wealth LLC’s holdings in Blackstone were worth $6,012,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC boosted its position in shares of Blackstone by 595.1% during the 3rd quarter. Fortitude Family Office LLC now owns 4,497 shares of the asset manager’s stock worth $689,000 after purchasing an additional 3,850 shares in the last quarter. Boston Financial Mangement LLC raised its stake in shares of Blackstone by 1.2% during the 3rd quarter. Boston Financial Mangement LLC now owns 22,682 shares of the asset manager’s stock worth $3,473,000 after buying an additional 275 shares during the last quarter. abrdn plc raised its stake in shares of Blackstone by 2.2% during the 3rd quarter. abrdn plc now owns 423,591 shares of the asset manager’s stock worth $64,841,000 after buying an additional 8,988 shares during the last quarter. Cantor Fitzgerald Investment Advisors L.P. raised its stake in shares of Blackstone by 58.2% during the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 9,492 shares of the asset manager’s stock worth $1,454,000 after buying an additional 3,492 shares during the last quarter. Finally, Worth Financial Advisory Group LLC raised its stake in shares of Blackstone by 8.2% during the 3rd quarter. Worth Financial Advisory Group LLC now owns 5,805 shares of the asset manager’s stock worth $889,000 after buying an additional 438 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related 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 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 is accessible through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the company’s 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 sale, the director now directly owns 799,749 shares in the company, 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. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

BX has been the subject of several research reports. UBS Group lifted their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Citigroup boosted their target price on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. BMO Capital Markets boosted their target price on shares of Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $155.38.

Blackstone Stock Down 0.6 %

NYSE BX traded down $0.98 on Tuesday, reaching $168.99. The company had a trading volume of 377,186 shares, compared to its average volume of 3,424,615. The firm has a market capitalization of $120.77 billion, a PE ratio of 60.07, a P/E/G ratio of 1.24 and a beta of 1.51. 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 firm has a 50-day moving average of $151.19 and a 200-day moving average of $135.04. Blackstone Inc. has a 1 year low of $90.43 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 paid a dividend of $0.86 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Monday, October 28th. Blackstone’s dividend payout ratio is 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.