TFB Advisors LLC Has $872,000 Position in Blackstone Inc. (NYSE:BX)

TFB Advisors LLC boosted its stake in shares of Blackstone Inc. (NYSE:BX) by 3.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,692 shares of the asset manager’s stock after buying an additional 193 shares during the quarter. TFB Advisors LLC’s holdings in Blackstone were worth $872,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BX. Raleigh Capital Management Inc. grew its stake in Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in shares of Blackstone by 2.3% in the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after purchasing an additional 62 shares during the last quarter. Fidelis Capital Partners LLC lifted its holdings in Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after purchasing an additional 62 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Blackstone by 0.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock valued at $2,132,000 after buying an additional 64 shares in the last quarter. Finally, Trust Co. of Vermont lifted its holdings in shares of Blackstone by 3.1% during the third quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock worth $343,000 after buying an additional 67 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insiders Place Their Bets

In related news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Evercore ISI lifted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Citigroup raised their price objective on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Redburn Atlantic initiated coverage on Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. Barclays boosted their price target on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company increased their price target on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average price target of $155.38.

Blackstone Stock Performance

Shares of BX stock opened at $176.30 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.77. Blackstone Inc. has a one year low of $96.15 and a one year high of $178.30. The business’s 50 day simple moving average is $155.70 and its 200 day simple moving average is $137.33. The stock has a market capitalization of $127.29 billion, a PE ratio of 60.58, a PEG ratio of 1.43 and a beta of 1.49.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a $0.86 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 1.95%. Blackstone’s payout ratio is presently 118.21%.

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.