Harbour Trust & Investment Management Co Acquires 3,049 Shares of Blackstone Inc. (NYSE:BX)

Harbour Trust & Investment Management Co boosted its stake in Blackstone Inc. (NYSE:BX) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,226 shares of the asset manager’s stock after purchasing an additional 3,049 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Blackstone were worth $9,222,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BX. Wulff Hansen & CO. raised its holdings in shares of Blackstone by 12,192.7% in the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after purchasing an additional 7,281,128 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after acquiring an additional 4,173,971 shares during the last quarter. Capital World Investors boosted its position in shares of Blackstone by 7.5% during the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after acquiring an additional 2,546,886 shares during the last quarter. Lazard Asset Management LLC raised its position in Blackstone by 19,048.1% in the first quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock valued at $247,423,000 after purchasing an additional 1,873,573 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Blackstone by 2.0% during the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after buying an additional 1,290,324 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Blackstone 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 transaction of $17,561,522.88. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John G. Finley sold 35,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 429,386 shares in the company, 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 corporate insiders.

Blackstone Trading Up 1.6 %

NYSE BX opened at $169.66 on Friday. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $175.94. The firm has a 50-day moving average price of $149.16 and a 200 day moving average price of $134.15. The stock has a market capitalization of $121.25 billion, a P/E ratio of 59.95, a P/E/G ratio of 1.24 and a beta of 1.51. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be paid a $0.86 dividend. 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 2.03%. Blackstone’s payout ratio is 121.55%.

Wall Street Analyst Weigh In

BX has been the subject of a number of analyst reports. Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective for the company. in a research report on Wednesday, October 9th. Citigroup raised their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Evercore ISI increased their price objective on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company boosted their target price on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Morgan Stanley raised their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. 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 presently has a consensus rating of “Hold” and a consensus target price 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.