Blackstone Inc. (NYSE:BX) Stock Position Raised by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC grew its holdings in Blackstone Inc. (NYSE:BX) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,178 shares of the asset manager’s stock after purchasing an additional 189 shares during the period. Frank Rimerman Advisors LLC’s holdings in Blackstone were worth $2,171,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BX. TCV Trust & Wealth Management Inc. acquired a new stake in Blackstone during the 3rd quarter worth about $230,000. MCF Advisors LLC grew its position in Blackstone by 10.7% during the third quarter. MCF Advisors LLC now owns 1,203 shares of the asset manager’s stock valued at $184,000 after purchasing an additional 116 shares in the last quarter. Covenant Partners LLC acquired a new position in Blackstone in the 3rd quarter valued at approximately $290,000. PFG Investments LLC grew its holdings in shares of Blackstone by 0.4% during the 3rd quarter. PFG Investments LLC now owns 26,519 shares of the asset manager’s stock valued at $4,061,000 after acquiring an additional 102 shares in the last quarter. Finally, Pathway Financial Advisers LLC raised its holdings in shares of Blackstone by 15,294.1% during the third quarter. Pathway Financial Advisers LLC now owns 236,453 shares of the asset manager’s stock worth $36,208,000 after acquiring an additional 234,917 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the topic of several research reports. The Goldman Sachs Group upped their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. TD Cowen boosted their target price on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. Cowen restated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. JPMorgan Chase & Co. raised their target price on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, UBS Group boosted their price objective on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $155.38.

Blackstone Trading Down 1.3 %

Shares of BX stock opened at $167.50 on Friday. The stock has a market cap of $119.70 billion, a price-to-earnings ratio of 59.19, a P/E/G ratio of 1.24 and a beta of 1.51. The firm has a fifty day moving average of $150.49 and a 200-day moving average of $134.68. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $175.94. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be paid a $0.86 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Monday, October 28th. Blackstone’s dividend payout ratio is currently 121.55%.

Insider Buying and Selling

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Baratta sold 116,448 shares of the company’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 transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents 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.

About Blackstone

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.