Blackstone Inc. (NYSE:BX) Shares Bought by abrdn plc

abrdn plc raised its holdings in Blackstone Inc. (NYSE:BX) by 2.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 423,591 shares of the asset manager’s stock after buying an additional 8,988 shares during the quarter. abrdn plc owned about 0.06% of Blackstone worth $64,841,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Blackstone by 1.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after purchasing an additional 7,692 shares during the period. Norden Group LLC raised its stake in shares of Blackstone by 2,072.0% during the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after buying an additional 34,872 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Blackstone by 936.2% in the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock worth $783,000 after buying an additional 5,383 shares during the last quarter. Scientech Research LLC purchased a new position in Blackstone during the second quarter valued at approximately $1,364,000. Finally, Asahi Life Asset Management CO. LTD. acquired a new position in Blackstone in the third quarter valued at approximately $557,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Bank of America lifted their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. The Goldman Sachs Group raised their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barclays increased their price target on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Wells Fargo & Company upped their target price on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Evercore ISI upped their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $155.38.

Blackstone Trading Down 0.1 %

Shares of BX stock opened at $169.81 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. Blackstone Inc. has a fifty-two week low of $90.43 and a fifty-two week high of $175.94. The stock has a market capitalization of $121.35 billion, a P/E ratio of 60.00, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company has a 50 day moving average price of $151.93 and a 200 day moving average price of $135.37.

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 issued a $0.86 dividend. The ex-dividend date of this dividend is Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 2.03%. Blackstone’s dividend payout ratio (DPR) is 121.55%.

Insiders Place Their Bets

In other news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $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 SEC, which can be accessed through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John G. Finley sold 35,000 shares of the business’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 value of $4,610,900.00. Following the sale, 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 owned by company insiders.

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.