Foundations Investment Advisors LLC Has $6.47 Million Stake in Blackstone Inc. (NYSE:BX)

Foundations Investment Advisors LLC grew its position in shares of Blackstone Inc. (NYSE:BX) by 13.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 42,220 shares of the asset manager’s stock after acquiring an additional 4,936 shares during the period. Foundations Investment Advisors LLC’s holdings in Blackstone were worth $6,465,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. West Financial Advisors LLC acquired a new stake in Blackstone in the 3rd quarter worth approximately $27,000. Chilton Capital Management LLC bought a new position in Blackstone in the 1st quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Blackstone in the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC bought a new position in Blackstone in the 2nd quarter worth approximately $27,000. Finally, Bank & Trust Co bought a new position in Blackstone in the 2nd quarter worth approximately $29,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Down 1.3 %

Shares of BX opened at $168.48 on Wednesday. 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 $88.59 and a 12-month high of $175.94. The firm has a market capitalization of $120.40 billion, a PE ratio of 59.53, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The stock’s fifty day simple moving average is $148.54 and its 200-day simple moving average is $133.92.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be paid a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is 121.55%.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group lifted their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. TD Cowen boosted their price objective on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research report on Friday, October 18th. The Goldman Sachs Group boosted their price objective on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Evercore ISI boosted their price target on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $155.38.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Blackstone news, insider John G. Finley sold 35,000 shares of the 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 completion of the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated 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 transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $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. 1.00% of the stock is currently owned by corporate insiders.

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.