Dakota Wealth Management Buys 816 Shares of Blackstone Inc. (NYSE:BX)

Dakota Wealth Management raised its stake in Blackstone Inc. (NYSE:BX) by 2.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 32,557 shares of the asset manager’s stock after acquiring an additional 816 shares during the period. Dakota Wealth Management’s holdings in Blackstone were worth $4,985,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Raleigh Capital Management Inc. boosted its holdings in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the period. Trust Co. of Vermont boosted its holdings in shares of Blackstone by 3.1% in the third quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock worth $343,000 after acquiring an additional 67 shares during the period. CVA Family Office LLC boosted its holdings in shares of Blackstone by 6.4% in the third quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock worth $187,000 after acquiring an additional 73 shares during the period. Moseley Investment Management Inc. raised its position in shares of Blackstone by 0.7% in the second quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock worth $1,391,000 after buying an additional 74 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. raised its position in shares of Blackstone by 0.6% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock worth $1,713,000 after buying an additional 80 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Blackstone stock opened at $167.50 on Friday. The company has a market capitalization of $119.70 billion, a P/E ratio of 59.19, a PEG ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $175.94. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average is $149.82 and its 200 day moving average is $134.39.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be given a $0.86 dividend. The ex-dividend date of this dividend is Monday, October 28th. This is a boost 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 121.55%.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the 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 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 SEC, which is accessible through the SEC website. Also, 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BX. Wells Fargo & Company increased their price objective on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Morgan Stanley increased their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price objective on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. UBS Group raised their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, Citigroup raised their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Thirteen investment 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 stock presently has a consensus rating of “Hold” and an average 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.