Blackstone Inc. (NYSE:BX) Shares Bought by JFG Wealth Management LLC

JFG Wealth Management LLC grew its position in shares of Blackstone Inc. (NYSE:BX) by 11.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,356 shares of the asset manager’s stock after purchasing an additional 242 shares during the quarter. JFG Wealth Management LLC’s holdings in Blackstone were worth $361,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Global Wealth Management Investment Advisory Inc. lifted its holdings in Blackstone by 2.1% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 6,250 shares of the asset manager’s stock worth $957,000 after purchasing an additional 126 shares during the period. Arthur M. Cohen & Associates LLC lifted its holdings in Blackstone by 22.7% in the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 3,645 shares of the asset manager’s stock valued at $553,000 after acquiring an additional 675 shares during the last quarter. Pittenger & Anderson Inc. lifted its holdings in Blackstone by 4.5% in the 3rd quarter. Pittenger & Anderson Inc. now owns 14,970 shares of the asset manager’s stock valued at $2,292,000 after acquiring an additional 645 shares during the last quarter. ASB Consultores LLC increased its holdings in Blackstone by 16.8% in the third quarter. ASB Consultores LLC now owns 2,344 shares of the asset manager’s stock worth $359,000 after buying an additional 338 shares during the last quarter. Finally, James J. Burns & Company LLC acquired a new position in Blackstone in the third quarter worth approximately $367,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Blackstone stock opened at $169.61 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.77. The stock has a fifty day moving average price of $154.97 and a two-hundred day moving average price of $137.05. Blackstone Inc. has a 52-week low of $96.15 and a 52-week high of $175.94. The firm has a market capitalization of $122.13 billion, a P/E ratio of 58.29, a P/E/G ratio of 1.44 and a beta of 1.49.

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

Wall Street Analysts Forecast Growth

BX has been the topic of several analyst reports. Redburn Atlantic began coverage on Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. The Goldman Sachs Group increased their price objective on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Barclays increased their price objective on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, Citigroup increased their price objective on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average price target of $155.38.

Insider Activity

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. 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.