Lake Street Private Wealth LLC Acquires 1,149 Shares of Blackstone Inc. (NYSE:BX)

Lake Street Private Wealth LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 3.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,733 shares of the asset manager’s stock after purchasing an additional 1,149 shares during the period. Blackstone accounts for about 1.0% of Lake Street Private Wealth LLC’s investment portfolio, making the stock its 24th biggest holding. Lake Street Private Wealth LLC’s holdings in Blackstone were worth $6,084,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Chilton Capital Management LLC acquired a new stake in shares of Blackstone in the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone during the second quarter worth approximately $26,000. EdgeRock Capital LLC bought a new position in shares of Blackstone during the second quarter worth approximately $27,000. West Financial Advisors LLC bought a new position in Blackstone during the 3rd quarter worth $27,000. Finally, Bank & Trust Co bought a new position in Blackstone during the 2nd quarter worth $29,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Up 0.4 %

Shares of NYSE:BX traded up $0.63 during midday trading on Wednesday, reaching $169.13. The company’s stock had a trading volume of 491,486 shares, compared to its average volume of 3,435,377. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $175.94. The firm has a market capitalization of $120.87 billion, a price-to-earnings ratio of 59.53, a PEG ratio of 1.24 and a beta of 1.51. The firm has a 50 day moving average price of $148.54 and a two-hundred day moving average price of $133.92. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a dividend of $0.86 per share. 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 yield of 2.03%. The ex-dividend date is Monday, October 28th. Blackstone’s payout ratio is currently 121.55%.

Insiders Place Their Bets

In other news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the topic of several recent analyst reports. UBS Group lifted their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. TD Cowen lifted their price target on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research note on Friday, October 18th. Evercore ISI lifted their price target on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. BMO Capital Markets lifted their price target on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group raised their price objective on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $155.38.

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.