Blackstone Inc. (NYSE:BX) Shares Purchased by Arkadios Wealth Advisors

Arkadios Wealth Advisors increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 133.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,251 shares of the asset manager’s stock after purchasing an additional 17,882 shares during the quarter. Arkadios Wealth Advisors’ holdings in Blackstone were worth $4,785,000 as of its most recent filing with the SEC.

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

Insider Transactions at Blackstone

In other 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 sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. 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 hyperlink. In other news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $17,561,522.88. Following the transaction, the director now owns 799,749 shares of the company’s stock, 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. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BX. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Piper Sandler lowered Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research report on Wednesday, October 9th. Wells Fargo & Company raised their price target on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a report on Friday, October 18th. TD Cowen raised their price target on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday, October 18th. Finally, Evercore ISI raised their price target on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $155.38.

Blackstone Stock Down 1.3 %

NYSE BX traded down $2.16 during trading on Friday, reaching $167.50. 2,831,110 shares of the company’s stock were exchanged, compared to its average volume of 3,445,846. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $175.94. The firm has a market capitalization of $119.70 billion, a PE ratio of 59.19, a P/E/G ratio of 1.24 and a beta of 1.51. 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 company’s fifty day simple moving average is $149.82 and its 200-day simple moving average is $134.39.

Blackstone Increases Dividend

The company 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 dividend of $0.86 per share. The ex-dividend date is Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.05%. Blackstone’s dividend payout ratio (DPR) is 121.55%.

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.