Blackstone Inc. (NYSE:BX) Shares Acquired by Cantor Fitzgerald Investment Advisors L.P.

Cantor Fitzgerald Investment Advisors L.P. raised its position in Blackstone Inc. (NYSE:BX) by 58.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,492 shares of the asset manager’s stock after buying an additional 3,492 shares during the quarter. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Blackstone were worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on BX. Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a research note on Wednesday, October 9th. TD Cowen raised their price objective on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. increased their target price on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company boosted their price target on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Bank of America raised their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $155.38.

Blackstone Trading Up 1.5 %

Shares of NYSE BX opened at $169.99 on Tuesday. The business has a 50-day moving average price of $151.19 and a two-hundred day moving average price of $135.04. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $121.48 billion, a PE ratio of 60.07, a PEG ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a one year low of $90.43 and a one year high of $175.94.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be given a dividend of $0.86 per share. The ex-dividend date is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 2.02%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is presently 121.55%.

Insider Transactions at Blackstone

In other Blackstone 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 transaction, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Finley sold 35,000 shares of the business’s 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 owns 429,386 shares in the company, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently 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.