PFG Investments LLC Has $4.06 Million Holdings in Blackstone Inc. (NYSE:BX)

PFG Investments LLC grew its stake in shares of Blackstone Inc. (NYSE:BX) by 0.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 26,519 shares of the asset manager’s stock after acquiring an additional 102 shares during the quarter. PFG Investments LLC’s holdings in Blackstone were worth $4,061,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Chilton Capital Management LLC acquired a new position in shares of Blackstone in the 1st quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone during the second quarter valued at approximately $26,000. EdgeRock Capital LLC acquired a new stake in shares of Blackstone in the 2nd quarter valued at $27,000. West Financial Advisors LLC bought a new position in shares of Blackstone in the 3rd quarter valued at $27,000. Finally, Bank & Trust Co bought a new stake in shares of Blackstone during the 2nd quarter worth $29,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Down 1.3 %

NYSE BX traded down $2.16 during trading hours on Friday, hitting $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 1-year low of $88.59 and a 1-year high of $175.94. 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 stock has a 50-day simple moving average of $150.49 and a 200 day simple moving average of $134.66. The firm has a market cap of $119.70 billion, a price-to-earnings ratio of 59.19, a PEG ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors 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 a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 2.05%. Blackstone’s dividend payout ratio is currently 121.55%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the 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 in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the 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 completion of the sale, the director now directly 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. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. 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. Bank of America boosted their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. increased their target price on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, UBS Group upped their price objective on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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.