Global Wealth Management Investment Advisory Inc. Raises Holdings in Blackstone Inc. (NYSE:BX)

Global Wealth Management Investment Advisory Inc. grew its holdings in Blackstone Inc. (NYSE:BX) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,250 shares of the asset manager’s stock after purchasing an additional 126 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Blackstone were worth $957,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’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 completion of the transaction, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated 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 owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents 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 company insiders.

Blackstone Stock Performance

BX traded up $1.47 during trading on Tuesday, hitting $168.51. 159,181 shares of the stock were exchanged, compared to its average volume of 3,409,888. The firm has a market capitalization of $121.34 billion, a P/E ratio of 57.40, a PEG ratio of 1.44 and a beta of 1.49. Blackstone Inc. has a 1-year low of $96.15 and a 1-year high of $175.94. The stock has a fifty day moving average price of $154.40 and a two-hundred day moving average price of $136.69. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a dividend of $0.86 per share. The ex-dividend date was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 2.04%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 118.21%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Piper Sandler lowered Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research report on Wednesday, October 9th. Evercore ISI increased their price target on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Redburn Atlantic assumed coverage on shares of Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. The Goldman Sachs Group boosted their price target on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Thirteen 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 target price of $155.38.

Blackstone 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.