Private Wealth Partners LLC Purchases 503 Shares of Blackstone Inc. (NYSE:BX)

Private Wealth Partners LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,634 shares of the asset manager’s stock after acquiring an additional 503 shares during the quarter. Private Wealth Partners LLC’s holdings in Blackstone were worth $5,457,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Chilton Capital Management LLC purchased a new position in Blackstone during the 1st quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Blackstone in the 2nd quarter worth $26,000. EdgeRock Capital LLC purchased a new stake in Blackstone during the 2nd quarter valued at about $27,000. West Financial Advisors LLC acquired a new position in shares of Blackstone in the third quarter valued at about $27,000. Finally, Bank & Trust Co acquired a new stake in shares of Blackstone during the second quarter worth about $29,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated 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 $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 other Blackstone news, insider John G. Finley sold 35,000 shares of the stock in a transaction dated 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 sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This trade represents 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. Also, Director Joseph Baratta sold 116,448 shares of the company’s 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 sale, the director now owns 799,749 shares in the company, valued at $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. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.2 %

Shares of Blackstone stock opened at $168.14 on Friday. The stock has a 50 day moving average of $153.90 and a 200 day moving average of $136.27. 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 firm has a market capitalization of $121.07 billion, a price-to-earnings ratio of 57.78, a PEG ratio of 1.47 and a beta of 1.51. Blackstone Inc. has a fifty-two week low of $96.15 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. Stockholders of record on Monday, October 28th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.05%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. Blackstone’s payout ratio is 118.21%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Morgan Stanley increased their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Redburn Atlantic started coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective on the stock. Citigroup increased their price objective 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. upped their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus target price 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.