CWA Asset Management Group LLC Buys Shares of 86,684 Blackstone Inc. (NYSE:BX)

CWA Asset Management Group LLC bought a new position in shares of Blackstone Inc. (NYSE:BX) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 86,684 shares of the asset manager’s stock, valued at approximately $13,274,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. West Financial Advisors LLC purchased a new stake in shares of Blackstone in the third quarter valued at $27,000. Chilton Capital Management LLC acquired a new stake in Blackstone in the 1st quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Blackstone during the 2nd quarter valued at $26,000. EdgeRock Capital LLC acquired a new stake in shares of Blackstone in the second quarter worth $27,000. Finally, Bank & Trust Co acquired a new stake in shares of Blackstone in the second quarter worth $29,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Up 0.7 %

Shares of NYSE BX opened at $177.51 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.77. The stock has a market cap of $128.16 billion, a P/E ratio of 61.00, a price-to-earnings-growth ratio of 1.43 and a beta of 1.49. Blackstone Inc. has a 1 year low of $96.15 and a 1 year high of $178.63. The firm has a 50-day moving average of $157.11 and a 200 day moving average of $137.98.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were given a dividend of $0.86 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.94%. Blackstone’s dividend payout ratio is currently 118.21%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BX shares. Deutsche Bank Aktiengesellschaft lifted 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. Evercore ISI raised their target price on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. BMO Capital Markets raised their target price on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Barclays lifted their price objective on Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, UBS Group lifted their price objective on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $155.38.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were 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 directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 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 disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Blackstone Company 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.