AIA Group Ltd Acquires 10,352 Shares of Blackstone Inc. (NYSE:BX)

AIA Group Ltd raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 35.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,562 shares of the asset manager’s stock after acquiring an additional 10,352 shares during the quarter. AIA Group Ltd’s holdings in Blackstone were worth $6,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in BX. Raleigh Capital Management Inc. boosted its holdings in Blackstone by 32.1% in 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 during the period. Capital Advisors Ltd. LLC grew its position in Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after buying an additional 62 shares in the last quarter. Fidelis Capital Partners LLC raised its holdings in shares of Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after acquiring an additional 62 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Blackstone by 0.5% during the third quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock worth $2,132,000 after purchasing an additional 64 shares in the last quarter. Finally, Trust Co. of Vermont increased its position in shares of Blackstone by 3.1% in 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 last quarter. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred 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 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 document filed with the SEC, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BX shares. JPMorgan Chase & Co. lifted their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley increased their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. UBS Group upped their price objective on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group boosted their price target on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a 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 company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $155.38.

Blackstone Stock Down 0.0 %

Shares of NYSE:BX opened at $176.30 on Friday. Blackstone Inc. has a 12-month low of $96.15 and a 12-month high of $178.30. The company has a current ratio of 0.71, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $155.70 and a two-hundred day simple moving average of $137.33. The stock has a market capitalization of $127.29 billion, a price-to-earnings ratio of 60.58, a PEG ratio of 1.43 and a beta of 1.49.

Blackstone Increases Dividend

The firm also recently declared 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 represents a $3.44 annualized dividend and a dividend yield of 1.95%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is currently 118.21%.

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.