McAdam LLC Takes $249,000 Position in Blackstone Inc. (NYSE:BX)

McAdam LLC acquired a new stake in Blackstone Inc. (NYSE:BX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,624 shares of the asset manager’s stock, valued at approximately $249,000.

Several other large investors have also made changes to their positions in the business. Brookstone Capital Management lifted its position in shares of Blackstone by 40.9% in the first quarter. Brookstone Capital Management now owns 8,332 shares of the asset manager’s stock worth $1,095,000 after buying an additional 2,417 shares in the last quarter. Independence Bank of Kentucky raised its position in Blackstone by 281.3% during the first quarter. Independence Bank of Kentucky now owns 2,894 shares of the asset manager’s stock valued at $380,000 after purchasing an additional 2,135 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in Blackstone by 5.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 20,266 shares of the asset manager’s stock valued at $2,662,000 after purchasing an additional 1,003 shares during the period. First Bank & Trust raised its position in Blackstone by 7.8% during the first quarter. First Bank & Trust now owns 1,742 shares of the asset manager’s stock valued at $229,000 after purchasing an additional 126 shares during the period. Finally, Foguth Wealth Management LLC. purchased a new stake in Blackstone during the first quarter valued at approximately $328,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, 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 document filed with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Stock Down 1.3 %

Blackstone stock opened at $167.50 on Friday. The business has a fifty day moving average of $149.82 and a two-hundred day moving average of $134.39. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The firm has a market cap of $119.70 billion, a P/E ratio of 59.28, a P/E/G ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $175.94.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a dividend of $0.86 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 2.05%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 121.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BX. Deutsche Bank Aktiengesellschaft upped their price objective on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. UBS Group upped their target price on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Morgan Stanley upped their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company upped their target price on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research note 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $155.38.

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.