Dakota Wealth Management Has $4.99 Million Stake in Blackstone Inc. (NYSE:BX)

Dakota Wealth Management raised its position in shares of Blackstone Inc. (NYSE:BX) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,557 shares of the asset manager’s stock after buying an additional 816 shares during the period. Dakota Wealth Management’s holdings in Blackstone were worth $4,985,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of Blackstone by 1.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after purchasing an additional 7,692 shares in the last quarter. Norden Group LLC raised its holdings in shares of Blackstone by 2,072.0% during the first quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock worth $4,802,000 after acquiring an additional 34,872 shares during the period. Blue Trust Inc. raised its holdings in shares of Blackstone by 936.2% during the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock worth $783,000 after acquiring an additional 5,383 shares during the period. Carret Asset Management LLC raised its holdings in shares of Blackstone by 20.9% during the first quarter. Carret Asset Management LLC now owns 46,645 shares of the asset manager’s stock worth $6,128,000 after acquiring an additional 8,050 shares during the period. Finally, Scientech Research LLC acquired a new stake in shares of Blackstone during the second quarter worth $1,364,000. 70.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Wells Fargo & Company lifted their price target on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Evercore ISI lifted their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. BMO Capital Markets lifted their price target on shares of Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Redburn Atlantic began coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price on the stock. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $155.38.

Insider Buying and Selling at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the business’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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of the business’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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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 directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX opened at $167.50 on Friday. The stock has a market capitalization of $119.70 billion, a PE ratio of 59.19, a P/E/G ratio of 1.24 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The business has a fifty day moving average price of $149.82 and a two-hundred day moving average price of $134.39. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $175.94.

Blackstone Increases Dividend

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

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.