Blackstone Inc. (NYSE:BX) Shares Bought by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,226 shares of the asset manager’s stock after buying an additional 3,049 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Blackstone were worth $9,222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BX. West Financial Advisors LLC acquired a new stake in shares of Blackstone during the 3rd quarter valued at approximately $27,000. Chilton Capital Management LLC acquired a new stake in Blackstone during the first quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Blackstone in the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC bought a new position in shares of Blackstone during the second quarter worth about $27,000. Finally, Bank & Trust Co acquired a new position in Blackstone during the 2nd quarter valued at about $29,000. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Citigroup boosted their price target on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets boosted their target price on Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Morgan Stanley upped their price objective on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company raised their price objective on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $155.38.

Insider Buying and Selling

In related news, Director Joseph Baratta sold 116,448 shares of the firm’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 transaction of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the firm’s 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 directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $4,610,900.00. Following the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. 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 company insiders.

Blackstone Stock Performance

Shares of NYSE BX opened at $169.66 on Friday. The company has a market capitalization of $121.25 billion, a P/E ratio of 59.95, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The business’s 50-day moving average price is $149.16 and its two-hundred day moving average price is $134.15. Blackstone Inc. has a one year low of $88.59 and a one year 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.

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 $0.86 dividend. The ex-dividend date of this dividend is Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 2.03%. Blackstone’s dividend payout ratio is 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.