Americana Partners LLC Makes New Investment in Blackstone Inc. (NYSE:BX)

Americana Partners LLC bought a new position in Blackstone Inc. (NYSE:BX) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 1,574 shares of the asset manager’s stock, valued at approximately $241,000.

Several other institutional investors have also added to or reduced their stakes in the business. Gladstone Institutional Advisory LLC boosted its holdings in Blackstone by 2.7% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 6,230 shares of the asset manager’s stock valued at $954,000 after acquiring an additional 165 shares during the period. Fonville Wealth Management LLC boosted its stake in shares of Blackstone by 11.8% during the third quarter. Fonville Wealth Management LLC now owns 2,070 shares of the asset manager’s stock valued at $317,000 after purchasing an additional 219 shares during the period. Lebenthal Global Advisors LLC boosted its position in Blackstone by 13.8% during the 3rd quarter. Lebenthal Global Advisors LLC now owns 5,945 shares of the asset manager’s stock valued at $910,000 after buying an additional 722 shares during the period. Jacobson & Schmitt Advisors LLC raised its stake in shares of Blackstone by 2.0% during the third quarter. Jacobson & Schmitt Advisors LLC now owns 83,190 shares of the asset manager’s stock valued at $12,739,000 after acquiring an additional 1,632 shares during the last quarter. Finally, Stephens Inc. AR grew its stake in shares of Blackstone by 1.3% in the third quarter. Stephens Inc. AR now owns 318,676 shares of the asset manager’s stock worth $48,799,000 after purchasing an additional 4,206 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction 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 SEC, which is available through this link. In related news, insider John G. Finley sold 35,000 shares of Blackstone 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 sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, 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 disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Cowen reiterated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. JPMorgan Chase & Co. raised their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Redburn Atlantic initiated coverage on shares of Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target on the stock. Piper Sandler cut Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research report on Wednesday, October 9th. Finally, Bank of America upped their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average price target of $155.38.

Blackstone Price Performance

Shares of BX opened at $168.14 on Friday. The company has a market capitalization of $121.07 billion, a P/E ratio of 57.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.51. Blackstone Inc. has a twelve month low of $96.15 and a twelve month high of $175.94. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $153.90 and a 200 day moving average of $136.27.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be issued a dividend of $0.86 per share. This is an increase 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 is Monday, October 28th. Blackstone’s dividend payout ratio is presently 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.