United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in shares of Blackstone Inc. (NYSE:BX – Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 182,715 shares of the asset manager’s stock, valued at approximately $27,979,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its stake in shares of Blackstone by 8.0% during the first quarter. Russell Investments Group Ltd. now owns 218,645 shares of the asset manager’s stock worth $28,709,000 after acquiring an additional 16,170 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in Blackstone by 7.7% in the first quarter. Kingsview Wealth Management LLC now owns 21,159 shares of the asset manager’s stock worth $2,780,000 after buying an additional 1,519 shares during the last quarter. HBK Sorce Advisory LLC lifted its position in Blackstone by 24.8% during the first quarter. HBK Sorce Advisory LLC now owns 8,799 shares of the asset manager’s stock valued at $1,156,000 after purchasing an additional 1,750 shares during the period. Orion Portfolio Solutions LLC boosted its position in Blackstone by 21.8% in the first quarter. Orion Portfolio Solutions LLC now owns 34,222 shares of the asset manager’s stock worth $4,496,000 after purchasing an additional 6,131 shares during the last quarter. Finally, Leo Wealth LLC lifted its position in Blackstone by 3.2% during the first quarter. Leo Wealth LLC now owns 6,066 shares of the asset manager’s stock valued at $796,000 after purchasing an additional 186 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.
Blackstone Stock Performance
Shares of NYSE BX opened at $181.56 on Thursday. Blackstone Inc. has a 12 month low of $100.78 and a 12 month high of $183.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $131.09 billion, a price-to-earnings ratio of 62.39, a PEG ratio of 1.55 and a beta of 1.49. The company has a 50 day simple moving average of $158.78 and a two-hundred day simple moving average of $139.01.
Blackstone Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.89%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio is 118.21%.
Analyst Ratings Changes
Several brokerages have recently issued reports on BX. Wells Fargo & Company upped their price objective on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. BMO Capital Markets upped their price objective on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Morgan Stanley upped their price target on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Barclays boosted 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. Finally, The Goldman Sachs Group lifted their price target on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $157.63.
Read Our Latest Report on Blackstone
Insider Buying and Selling
In other Blackstone news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider John G. Finley sold 42,249 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 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. 1.00% of the stock is currently owned by company insiders.
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.
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