Blackstone Inc. (NYSE:BX) Shares Bought by Avidian Wealth Enterprises LLC

06 Nov 2024, 08:08 by Amy Steele · The Cerbat Gem

Avidian Wealth Enterprises LLC grew its stake in shares of Blackstone Inc. (NYSE:BX – Free Report) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,125 shares of the asset manager’s stock after purchasing an additional 120 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Blackstone were worth $2,469,000 at the end of the most recent quarter.

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

Insider Activity at Blackstone

In other news, 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 transaction of $17,561,522.88. Following the completion of the sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Up 1.5 %

Shares of BX stock opened at $169.61 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. The stock has a market cap of $122.13 billion, a PE ratio of 58.29, a price-to-earnings-growth ratio of 1.44 and a beta of 1.49. The business’s fifty day moving average is $154.97 and its 200-day moving average is $137.05. Blackstone Inc. has a 1 year low of $96.15 and a 1 year high of $175.94.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a $0.86 dividend. The ex-dividend date was Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 2.03%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is currently 118.21%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Bank of America lifted their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their price objective on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Evercore ISI raised their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Morgan Stanley boosted their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $155.38.

Check Out Our Latest Stock Analysis on BX

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