PFG Investments LLC Boosts Stake in Blackstone Inc. (NYSE:BX)

PFG Investments LLC increased its holdings in Blackstone Inc. (NYSE:BX) by 0.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,519 shares of the asset manager’s stock after acquiring an additional 102 shares during the period. PFG Investments LLC’s holdings in Blackstone were worth $4,061,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. West Financial Advisors LLC purchased a new position in Blackstone in the third quarter valued at approximately $27,000. Chilton Capital Management LLC bought a new stake in shares of Blackstone in the first quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone during the 2nd quarter worth $26,000. EdgeRock Capital LLC bought a new stake in Blackstone in the 2nd quarter valued at about $27,000. Finally, Bank & Trust Co bought a new position in Blackstone during the second quarter worth about $29,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Trading Down 1.3 %

Shares of BX traded down $2.16 during mid-day trading on Friday, reaching $167.50. The company’s stock had a trading volume of 2,831,110 shares, compared to its average volume of 3,445,846. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $175.94. The company’s fifty day moving average price is $150.49 and its two-hundred day moving average price is $134.66. The stock has a market cap of $119.70 billion, a PE ratio of 59.19, a P/E/G ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is 121.55%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. The Goldman Sachs Group upped their price target 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. UBS Group raised their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased 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. Morgan Stanley upped their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Redburn Atlantic assumed coverage on shares of Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective for the company. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average target price of $155.38.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred 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 transaction, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction 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 owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $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 currently owned by corporate insiders.

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.