Meitav Investment House Ltd. Has $1.52 Million Stake in Blackstone Inc. (NYSE:BX)

Meitav Investment House Ltd. raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 10,030 shares of the asset manager’s stock after acquiring an additional 728 shares during the period. Meitav Investment House Ltd.’s holdings in Blackstone were worth $1,524,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BX. Vanguard Group Inc. raised its holdings in Blackstone by 2.0% in the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after purchasing an additional 1,290,324 shares during the period. Capital World Investors lifted its holdings in Blackstone by 7.5% during 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. Wulff Hansen & CO. increased its holdings in shares of Blackstone by 12,192.7% in the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after acquiring an additional 7,281,128 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Blackstone by 2.3% during the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after purchasing an additional 141,616 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Blackstone by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock worth $613,581,000 after purchasing an additional 21,450 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BX shares. Citigroup increased their target price on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Piper Sandler cut Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research note on Wednesday, October 9th. Cowen reiterated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. JPMorgan Chase & Co. increased their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Redburn Atlantic started coverage on shares of Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target on the stock. Thirteen 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 presently has a consensus rating of “Hold” and a consensus target price of $155.38.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the sale, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on 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 owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

NYSE BX opened at $170.65 on Thursday. 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 Inc. has a 12-month low of $91.14 and a 12-month high of $175.94. The firm has a 50-day moving average price of $152.67 and a two-hundred day moving average price of $135.62. The company has a market capitalization of $121.95 billion, a P/E ratio of 60.62, a P/E/G ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

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

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.