United Advisor Group LLC Has $674,000 Position in Blackstone Inc. (NYSE:BX)

06 Nov 2024, 11:07 by Michael Walen · The Markets Daily

United Advisor Group LLC reduced its stake in shares of Blackstone Inc. (NYSE:BX – Free Report) by 8.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,400 shares of the asset manager’s stock after selling 396 shares during the quarter. United Advisor Group LLC’s holdings in Blackstone were worth $674,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Chilton Capital Management LLC bought a new position in shares of Blackstone in the 1st quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone during the second quarter worth about $26,000. EdgeRock Capital LLC bought a new stake in shares of Blackstone during the 2nd quarter valued at approximately $27,000. West Financial Advisors LLC acquired a new position in Blackstone during the 3rd quarter worth approximately $27,000. Finally, Bank & Trust Co acquired a new stake in Blackstone in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of research reports. Citigroup increased their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their price target on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Evercore ISI raised their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. UBS Group upped their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler lowered Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a research report on Wednesday, October 9th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $155.38.

View Our Latest Stock Analysis on Blackstone

Blackstone Trading Up 1.5 %

Shares of Blackstone stock opened at $169.61 on Wednesday. Blackstone Inc. has a 52 week low of $96.15 and a 52 week high of $175.94. The stock has a 50 day moving average price of $154.97 and a two-hundred day moving average price of $137.05. 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 capitalization 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.

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 issued a dividend of $0.86 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Insider Buying and Selling

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business’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 sale, the director now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Blackstone Profile

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