U.S. Capital Wealth Advisors LLC Buys 8,749 Shares of Blackstone Inc. (NYSE:BX)

U.S. Capital Wealth Advisors LLC grew its stake in shares of Blackstone Inc. (NYSE:BX) by 47.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,078 shares of the asset manager’s stock after buying an additional 8,749 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Blackstone were worth $4,147,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. West Financial Advisors LLC bought a new stake in shares of Blackstone in the 3rd quarter worth approximately $27,000. Chilton Capital Management LLC purchased a new stake in Blackstone during the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Blackstone in the second quarter worth about $26,000. EdgeRock Capital LLC purchased a new stake in Blackstone during the 2nd quarter valued at about $27,000. Finally, Bank & Trust Co purchased a new position in Blackstone in the 2nd quarter worth approximately $29,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective for the company. in a research note on Wednesday, October 9th. The Goldman Sachs Group boosted their price target on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, UBS Group upped their target price on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $155.38.

Blackstone Stock Down 0.9 %

BX stock opened at $166.92 on Thursday. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $175.94. The firm has a market cap of $119.29 billion, a PE ratio of 58.98, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The business has a 50 day moving average of $149.16 and a 200 day moving average of $134.15. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be paid a $0.86 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 2.06%. Blackstone’s payout ratio is presently 121.55%.

Insiders Place Their Bets

In related news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly 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 Securities & Exchange Commission, which is available at the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred 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 directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This 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 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.