Avitas Wealth Management LLC Acquires 445 Shares of Blackstone Inc. (NYSE:BX)

Avitas Wealth Management LLC grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,030 shares of the asset manager’s stock after acquiring an additional 445 shares during the period. Avitas Wealth Management LLC’s holdings in Blackstone were worth $4,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Childress Capital Advisors LLC bought a new position in shares of Blackstone in the third quarter worth approximately $258,000. Fidelis Capital Partners LLC increased its stake in Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after buying an additional 62 shares in the last quarter. Valmark Advisers Inc. lifted its position in shares of Blackstone by 5.4% in the third quarter. Valmark Advisers Inc. now owns 3,958 shares of the asset manager’s stock valued at $606,000 after acquiring an additional 202 shares in the last quarter. Hedeker Wealth LLC raised its stake in Blackstone by 1.9% during the 3rd quarter. Hedeker Wealth LLC now owns 39,259 shares of the asset manager’s stock valued at $6,012,000 after purchasing an additional 733 shares during the period. Finally, Fortitude Family Office LLC boosted its stake in Blackstone by 595.1% in the 3rd quarter. Fortitude Family Office LLC now owns 4,497 shares of the asset manager’s stock worth $689,000 after purchasing an additional 3,850 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone

In other Blackstone 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 value of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the company’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 transaction, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 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 disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone Trading Down 0.1 %

NYSE BX opened at $169.81 on Wednesday. The company’s 50-day simple moving average is $151.93 and its two-hundred day simple moving average is $135.37. Blackstone Inc. has a one year low of $90.43 and a one year high of $175.94. The company has a market capitalization of $121.35 billion, a price-to-earnings ratio of 60.00, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. 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 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. This represents a $3.44 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is 121.55%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BX. Evercore ISI upped their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price objective on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. TD Cowen increased their price target on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research note on Friday, October 18th. Redburn Atlantic started coverage on Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective on the stock. Finally, Bank of America raised their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Thirteen investment 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 an average rating of “Hold” and a consensus price target of $155.38.

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.