Meitav Investment House Ltd. Has $1.52 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Meitav Investment House Ltd. raised its position in shares of Blackstone Inc. (NYSE:BX) by 7.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 10,030 shares of the asset manager’s stock after purchasing an additional 728 shares during the quarter. Meitav Investment House Ltd.’s holdings in Blackstone were worth $1,524,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norden Group LLC grew its stake in Blackstone by 2,072.0% during the first quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock worth $4,802,000 after purchasing an additional 34,872 shares during the period. First Trust Direct Indexing L.P. increased its stake in shares of Blackstone by 32.0% in the 1st quarter. First Trust Direct Indexing L.P. now owns 11,786 shares of the asset manager’s stock valued at $1,548,000 after acquiring an additional 2,858 shares in the last quarter. Veracity Capital LLC boosted its stake in Blackstone by 3.8% during the first quarter. Veracity Capital LLC now owns 3,152 shares of the asset manager’s stock worth $414,000 after acquiring an additional 114 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in Blackstone by 0.9% in the first quarter. Maryland State Retirement & Pension System now owns 55,949 shares of the asset manager’s stock valued at $6,826,000 after purchasing an additional 474 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its holdings in shares of Blackstone by 27.4% during the first quarter. Ashton Thomas Private Wealth LLC now owns 20,585 shares of the asset manager’s stock valued at $2,704,000 after purchasing an additional 4,430 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of Blackstone stock opened at $170.65 on Thursday. The firm has a market capitalization of $121.95 billion, a P/E ratio of 60.62, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The business’s fifty day simple moving average is $152.67 and its 200 day simple moving average is $135.62. Blackstone Inc. has a 12 month low of $91.14 and a 12 month high of $175.94.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be given a dividend of $0.86 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 2.02%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is presently 121.55%.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 35,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction 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 approximately $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Citigroup boosted their target price on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Bank of America upped their target price on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Redburn Atlantic assumed coverage on shares of Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target for the company. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group upped their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average target price of $155.38.

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.