Old Port Advisors Increases Stock Holdings in Blackstone Inc. (NYSE:BX)

Old Port Advisors increased its stake in Blackstone Inc. (NYSE:BX) by 6.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,019 shares of the asset manager’s stock after buying an additional 366 shares during the quarter. Old Port Advisors’ holdings in Blackstone were worth $922,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Autumn Glory Partners LLC grew its holdings in Blackstone by 25.3% during the 3rd quarter. Autumn Glory Partners LLC now owns 3,940 shares of the asset manager’s stock valued at $603,000 after purchasing an additional 795 shares during the last quarter. Taylor & Morgan Wealth Management LLC bought a new position in shares of Blackstone during the third quarter valued at approximately $221,000. Asahi Life Asset Management CO. LTD. bought a new stake in shares of Blackstone during the 3rd quarter worth approximately $557,000. Welch Group LLC boosted its holdings in Blackstone by 5.8% during the 3rd quarter. Welch Group LLC now owns 57,398 shares of the asset manager’s stock valued at $8,789,000 after acquiring an additional 3,155 shares during the period. Finally, Kercheville Advisors LLC increased its stake in Blackstone by 11.7% in the third quarter. Kercheville Advisors LLC now owns 46,664 shares of the asset manager’s stock worth $7,146,000 after purchasing an additional 4,880 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’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 transaction of $4,610,900.00. Following the sale, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction 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 in the company, valued at $56,567,311.64. 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

NYSE BX opened at $169.99 on Tuesday. Blackstone Inc. has a 12-month low of $90.43 and a 12-month high of $175.94. The firm’s fifty day simple moving average is $151.19 and its two-hundred day simple moving average is $135.04. 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 firm has a market capitalization of $121.48 billion, a P/E ratio of 60.07, a P/E/G ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be paid a $0.86 dividend. The ex-dividend date is Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 2.02%. Blackstone’s dividend payout ratio (DPR) is 121.55%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BX shares. Evercore ISI upped their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Citigroup lifted their price target on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Bank of America increased their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Cowen reiterated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Finally, BMO Capital Markets lifted their price objective on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently 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.