Stephens Inc. AR Buys 4,206 Shares of Blackstone Inc. (NYSE:BX)

Stephens Inc. AR boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 1.3% in the third quarter, Holdings Channel reports. The firm owned 318,676 shares of the asset manager’s stock after acquiring an additional 4,206 shares during the period. Blackstone comprises about 0.7% of Stephens Inc. AR’s holdings, making the stock its 24th biggest position. Stephens Inc. AR’s holdings in Blackstone were worth $48,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of Blackstone by 1.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after acquiring an additional 7,692 shares during the period. Norden Group LLC boosted its position in shares of Blackstone by 2,072.0% in the first quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after acquiring an additional 34,872 shares during the period. Blue Trust Inc. boosted its position in shares of Blackstone by 936.2% in the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock valued at $783,000 after acquiring an additional 5,383 shares during the period. Asahi Life Asset Management CO. LTD. bought a new stake in shares of Blackstone in the third quarter valued at approximately $557,000. Finally, Scientech Research LLC bought a new stake in shares of Blackstone in the second quarter valued at approximately $1,364,000. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. TD Cowen raised their target price on Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. Piper Sandler cut Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a research report on Wednesday, October 9th. Wells Fargo & Company raised their target price on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, Redburn Atlantic began coverage on Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective for the company. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average price target of $155.38.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Blackstone news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $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. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Performance

Shares of Blackstone stock opened at $167.75 on Friday. 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 firm has a market cap of $120.79 billion, a P/E ratio of 57.65, a P/E/G ratio of 1.47 and a beta of 1.51. The firm has a 50 day simple moving average of $153.32 and a 200 day simple moving average of $135.84. Blackstone Inc. has a fifty-two week low of $91.14 and a fifty-two week 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 issued a $0.86 dividend. The ex-dividend date is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.05%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

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.