Blackstone Inc. (NYSE:BX) Shares Purchased by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. grew its stake in shares of Blackstone Inc. (NYSE:BX) by 2.1% in the third quarter, Holdings Channel.com reports. The fund owned 6,250 shares of the asset manager’s stock after purchasing an additional 126 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Blackstone were worth $957,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Raleigh Capital Management Inc. increased its holdings in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in Blackstone by 2.3% in the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after acquiring an additional 62 shares in the last quarter. Fidelis Capital Partners LLC grew its holdings in Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after acquiring an additional 62 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Blackstone by 0.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock valued at $2,132,000 after purchasing an additional 64 shares in the last quarter. Finally, Trust Co. of Vermont grew its stake in 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 in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity

In related news, insider John G. Finley sold 35,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Tuesday, October 1st. The stock was 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. This trade 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.

Blackstone Price Performance

Shares of BX stock traded up $1.47 during midday trading on Tuesday, reaching $168.51. 159,181 shares of the company were exchanged, compared to its average volume of 3,409,888. Blackstone Inc. has a 12 month low of $96.15 and a 12 month high of $175.94. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. The company has a market cap of $121.34 billion, a P/E ratio of 57.40, a PEG ratio of 1.44 and a beta of 1.49. The company’s 50 day moving average price is $154.40 and its two-hundred day moving average price is $136.69.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a dividend of $0.86 per share. The ex-dividend date was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 2.04%. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company lifted 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. Bank of America increased their target price on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Evercore ISI boosted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Citigroup lifted their target price on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. boosted their price objective on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $155.38.

About Blackstone

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.