Raleigh Capital Management Inc. Increases Holdings in Blackstone Inc. (NYSE:BX)

Raleigh Capital Management Inc. increased its stake in shares of Blackstone Inc. (NYSE:BX) by 32.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 255 shares of the asset manager’s stock after buying an additional 62 shares during the period. Raleigh Capital Management Inc.’s holdings in Blackstone were worth $39,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Blackstone by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after acquiring an additional 1,290,324 shares during the period. Capital World Investors boosted its position 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 purchasing an additional 2,546,886 shares during the period. Wulff Hansen & CO. raised its position 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 valued at $908,797,000 after purchasing an additional 7,281,128 shares during the period. Legal & General Group Plc lifted its stake 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 buying an additional 141,616 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Blackstone by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock valued at $613,581,000 after buying an additional 21,450 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BX shares. Citigroup raised their price target on Blackstone from $157.00 to $170.00 and gave the stock 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. Bank of America boosted their price objective on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Redburn Atlantic started coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target for the company. Finally, Evercore ISI increased their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $155.38.

Blackstone Price Performance

BX stock opened at $166.92 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $119.29 billion, a P/E ratio of 58.98, a P/E/G ratio of 1.24 and a beta of 1.51. The firm’s fifty day moving average is $149.16 and its 200 day moving average is $134.15. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $175.94.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.06%. This is a positive change 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 (DPR) is presently 121.55%.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated 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 approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of the company’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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. 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.

About Blackstone

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.