Blackstone Inc. (NYSE:BX) Stake Boosted by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC raised its position in Blackstone Inc. (NYSE:BX) by 0.7% during the third quarter, HoldingsChannel.com reports. The firm owned 16,125 shares of the asset manager’s stock after buying an additional 120 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Blackstone were worth $2,469,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake 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 valued at $8,442,227,000 after acquiring an additional 1,290,324 shares in the last quarter. Capital World Investors boosted 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 worth $4,766,875,000 after buying an additional 2,546,886 shares during the period. Wulff Hansen & CO. lifted its position in Blackstone by 12,192.7% during the 2nd 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 during the last quarter. Legal & General Group Plc grew its position in shares of Blackstone by 2.3% in the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after purchasing an additional 141,616 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Blackstone by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock worth $613,581,000 after purchasing an additional 21,450 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’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 sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. Redburn Atlantic started coverage on Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target on the stock. BMO Capital Markets boosted their price objective 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. Piper Sandler cut Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target for the company. in a report on Wednesday, October 9th. The Goldman Sachs Group increased their price objective on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $155.38.

Blackstone Trading Up 1.5 %

BX stock opened at $169.61 on Wednesday. The business has a fifty day moving average of $154.97 and a 200-day moving average of $137.05. The company has a market cap of $122.13 billion, a P/E ratio of 58.29, a PEG ratio of 1.44 and a beta of 1.49. Blackstone Inc. has a twelve month low of $96.15 and a twelve month high of $175.94. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

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 paid a $0.86 dividend. This represents a $3.44 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is 118.21%.

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.