Blackstone Inc. (NYSE:BX) Stock Position Lifted by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. boosted its stake in Blackstone Inc. (NYSE:BX) by 1.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,061 shares of the asset manager’s stock after buying an additional 80 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Blackstone were worth $1,234,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raleigh Capital Management Inc. boosted its position in shares of Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after acquiring an additional 62 shares during the last quarter. Fidelis Capital Partners LLC boosted its stake in shares of Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after acquiring an additional 62 shares in the last quarter. Trust Co. of Vermont raised its position in shares of Blackstone by 3.1% during the third quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock worth $343,000 after purchasing an additional 67 shares during the period. Finally, CVA Family Office LLC boosted its position in shares of Blackstone by 6.4% in the 3rd quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock valued at $187,000 after purchasing an additional 73 shares during the period. 70.00% of the stock is currently owned by institutional investors.

Blackstone Price Performance

NYSE BX opened at $168.14 on Friday. The stock’s 50-day moving average is $153.90 and its two-hundred day moving average is $136.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.77. Blackstone Inc. has a fifty-two week low of $96.15 and a fifty-two week high of $175.94. The firm has a market cap of $121.07 billion, a P/E ratio of 57.78, a price-to-earnings-growth ratio of 1.47 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 given a $0.86 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.05%. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of research firms have commented on BX. Morgan Stanley upped their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Barclays raised their price objective on shares of Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Cowen restated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Bank of America lifted their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their price objective on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $155.38.

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.