Farther Finance Advisors LLC Increases Stake in Blackstone Inc.

Farther Finance Advisors LLC has boosted its investment in Blackstone Inc. (NYSE:BX) by an impressive 45.9% in the third quarter of the fiscal year. This information comes from the latest disclosure submitted to the SEC. Following this increase, Farther Finance now holds a total of 13,971 shares of Blackstone, after acquiring an additional 4,393 shares during the quarter. As of the end of this recent period, the value of Farther Finance Advisors' holdings in the asset management company stands at approximately $2,139,000.

A number of other institutional investors have also recently adjusted their positions in Blackstone (BX). For instance, Raleigh Capital Management Inc. raised its stake by 32.1% during the same quarter, now owning 255 shares valued at $39,000 after acquiring an extra 62 shares. Similarly, Capital Advisors Ltd. LLC increased their holdings by 2.3%, owning 2,787 shares worth $427,000 after buying 62 shares in the last quarter. Fidelis Capital Partners LLC has raised its stake by 2.7%, with 2,374 shares valued at $396,000 after purchasing 62 additional shares. Trust Co. of Vermont and CVA Family Office LLC also made modest increases in their positions, with respective increases of 3.1% and 6.4%. Currently, about 70% of Blackstone's stock is held by institutional investors and hedge funds.

Recent Insider Transactions

In addition to institutional investments, there has been notable insider activity at Blackstone. Director Joseph Baratta sold a substantial 116,448 shares of the company's stock on October 1st, receiving an average price of $150.81 for a significant total of $17,561,522.88. Post-transaction, Baratta retains ownership of 799,749 shares, with a current value of approximately $120,610,146.69. Another insider, John G. Finley, sold 35,000 shares on August 7th, netting about $4,610,900 at an average share price of $131.74. Following his sale, Finley now directly holds 429,386 shares valued around $56,567,311.64. Insiders currently own about 1% of Blackstone's stock.

Stock Performance

As of the most recent trading session, Blackstone (BX) opened at $168.14. The stock's 50-day simple moving average is around $153.90, while its 200-day simple moving average is approximately $136.27. The company's market capitalization is $121.07 billion, with a P/E ratio of 57.78. Blackstone shares have seen a one-year low of $96.15 and a peak of $175.94. The firm reports a debt-to-equity ratio of 0.58 and has liquidity ratios of 0.77 and 0.71.

Dividend Update

Recently, Blackstone announced an increase in its quarterly dividend, which is set to be paid out on November 4th. Shareholders who are on record by October 28th will receive a dividend of $0.86 per share. This marks an annualized dividend of $3.44, leading to a dividend yield of 2.05%. The company had previously announced a quarterly dividend of $0.82. Currently, the payout ratio stands at 118.21%, indicating the amount of earnings paid out as dividends.

Analyst Price Targets

Market analysts have also been active in evaluating Blackstone's stock. Recently, Wells Fargo raised its target price from $169.00 to $188.00, maintaining an "overweight" rating. Barclays increased its price objective from $155.00 to $174.00, subsequently giving it an "equal weight" rating. Bank of America raised its target from $171.00 to $192.00, highlighting a "buy" rating for the company. The Goldman Sachs Group adjusted their price objective from $135.00 to $150.00, rating it as "neutral", while TD Cowen lifted it from $133.00 to $149.00, assigning a "hold" rating. In total, 13 analysts have rated Blackstone with a hold rating, while six professionals have set a buy rating. The consensus rating suggests that Blackstone's stock is viewed as a hold with an average price target of $155.38.

About Blackstone Inc.

Blackstone Inc. operates as an alternative asset management firm with expertise in various areas including real estate, private equity, hedge fund solutions, credit, and public debt. The company typically invests in companies at various stages and also offers capital markets services to its clients.

Blackstone, Investments, Dividends