Blackstone Inc. (NYSE:BX) Shares Acquired by Glassy Mountain Advisors Inc.

Glassy Mountain Advisors Inc. increased its holdings in Blackstone Inc. (NYSE:BX) by 4.0% during the third quarter, HoldingsChannel.com reports. The fund owned 41,291 shares of the asset manager’s stock after buying an additional 1,605 shares during the period. Blackstone makes up approximately 2.2% of Glassy Mountain Advisors Inc.’s holdings, making the stock its 19th largest holding. Glassy Mountain Advisors Inc.’s holdings in Blackstone were worth $6,323,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Wulff Hansen & CO. raised its holdings in Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $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 valued at $6,433,220,000 after buying an additional 4,173,971 shares in the last quarter. Capital World Investors raised its position in Blackstone by 7.5% in the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after acquiring an additional 2,546,886 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Blackstone by 19,048.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock worth $247,423,000 after purchasing an additional 1,873,573 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Blackstone by 2.0% in the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after purchasing an additional 1,290,324 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Up 0.2 %

Shares of BX opened at $168.14 on Friday. Blackstone Inc. has a one year low of $96.15 and a one year high of $175.94. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. The company has a market capitalization of $121.07 billion, a P/E ratio of 57.78, a P/E/G ratio of 1.47 and a beta of 1.51. The stock has a 50-day moving average price of $153.90 and a 200 day moving average price of $136.27.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be paid a dividend of $0.86 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 2.05%. Blackstone’s dividend payout ratio is 118.21%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BX shares. TD Cowen lifted their price objective on Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Bank of America upped their target price on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Redburn Atlantic started coverage on Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective for the company. Finally, JPMorgan Chase & Co. upped 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. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $155.38.

Insider Buying and Selling

In related 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 owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider John G. Finley sold 35,000 shares of the firm’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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.