Focused Wealth Management Inc Buys 70 Shares of Blackstone Inc. (NYSE:BX)

Focused Wealth Management Inc boosted its stake in Blackstone Inc. (NYSE:BX) by 0.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 48,942 shares of the asset manager’s stock after acquiring an additional 70 shares during the quarter. Blackstone comprises 1.0% of Focused Wealth Management Inc’s investment portfolio, making the stock its 19th largest position. Focused Wealth Management Inc’s holdings in Blackstone were worth $7,495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Chilton Capital Management LLC bought a new stake in Blackstone during the first quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Blackstone in the 2nd quarter valued at approximately $26,000. EdgeRock Capital LLC acquired a new position in Blackstone during the second quarter worth $27,000. West Financial Advisors LLC bought a new stake in Blackstone during the third quarter worth $27,000. Finally, Bank & Trust Co bought a new position in shares of Blackstone in the 2nd quarter valued at about $29,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 1.5 %

BX opened at $169.61 on Wednesday. Blackstone Inc. has a 1-year low of $96.15 and a 1-year high of $175.94. The company has a current ratio of 0.71, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The company has a market cap of $122.13 billion, a P/E ratio of 58.29, a PEG ratio of 1.44 and a beta of 1.49. The company’s 50 day moving average is $154.97 and its 200-day moving average is $137.05.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a dividend of $0.86 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 2.03%. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BX. Morgan Stanley lifted their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. UBS Group raised their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Evercore ISI increased their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Citigroup upped their price target on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Bank of America upped their target price on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $155.38.

Insider Buying and Selling at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the company’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 value 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 $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Blackstone 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.