Element Wealth LLC Buys 246 Shares of Blackstone Inc. (NYSE:BX)

Element Wealth LLC raised its position in Blackstone Inc. (NYSE:BX) by 3.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 7,974 shares of the asset manager’s stock after purchasing an additional 246 shares during the period. Element Wealth LLC’s holdings in Blackstone were worth $1,221,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

A number of analysts have commented on BX shares. Bank of America boosted their price target on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company raised 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. Citigroup raised their price objective on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley raised their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, TD Cowen boosted their target price on Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $155.38.

Blackstone Price Performance

BX opened at $169.66 on Friday. The firm has a 50-day moving average price of $149.16 and a 200-day moving average price of $134.15. The company has a market capitalization of $121.25 billion, a price-to-earnings ratio of 59.95, 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.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be issued a $0.86 dividend. 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 dividend yield of 2.03%. The ex-dividend date is Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is presently 121.55%.

Insider Buying and Selling

In other news, insider John G. Finley sold 35,000 shares of the 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 sale, the insider now directly owns 429,386 shares of the company’s stock, 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 filing with the SEC, which can be accessed through the SEC website. In related news, insider John G. Finley sold 35,000 shares of Blackstone 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value 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. 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 currently owned by 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.