Blackstone Inc. (NYSE:BX) Position Increased by TFB Advisors LLC

TFB Advisors LLC lifted its stake in shares of Blackstone Inc. (NYSE:BX) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,692 shares of the asset manager’s stock after acquiring an additional 193 shares during the quarter. TFB Advisors LLC’s holdings in Blackstone were worth $872,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BX. Chilton Capital Management LLC acquired a new position in shares of Blackstone in the first quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Blackstone in the 2nd quarter worth about $26,000. EdgeRock Capital LLC purchased a new position in Blackstone during the 2nd quarter valued at about $27,000. West Financial Advisors LLC purchased a new position in Blackstone during the third quarter valued at approximately $27,000. Finally, Bank & Trust Co purchased a new stake in Blackstone in the 2nd quarter worth approximately $29,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.00% of the company’s stock.

Blackstone Stock Down 0.0 %

Shares of NYSE BX opened at $176.30 on Friday. The stock has a market cap of $127.29 billion, a PE ratio of 60.58, a PEG ratio of 1.43 and a beta of 1.49. 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 business has a fifty day moving average of $155.70 and a two-hundred day moving average of $137.33. Blackstone Inc. has a 52-week low of $96.15 and a 52-week high of $178.30.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were issued a $0.86 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Monday, October 28th. Blackstone’s payout ratio is presently 118.21%.

Wall Street Analyst Weigh In

BX has been the subject of a number of research reports. 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 research report on Friday, October 18th. Redburn Atlantic initiated coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective for the company. Bank of America lifted 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. Morgan Stanley upped their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research note on Wednesday, October 9th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $155.38.

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.