Farther Finance Advisors Boosts Blackstone Inc. Holdings

Farther Finance Advisors LLC has significantly increased its investment in Blackstone Inc. (NYSE:BX) by 45.9% during the third quarter, as revealed in a recent SEC disclosure. The firm now holds a total of 13,971 shares of Blackstone's stock, following an additional purchase of 4,393 shares within the quarter. The value of Farther Finance Advisors' stake in Blackstone reached approximately $2,139,000 at the end of this reporting period.

In addition to Farther Finance Advisors, several other institutional investors have also adjusted their positions in Blackstone. For instance, Raleigh Capital Management Inc. raised its shareholding by 32.1%, now owning 255 shares, valued at about $39,000 after acquiring 62 more shares in the latest quarter. Capital Advisors Ltd. LLC increased its stake by 2.3%, bringing their total to 2,787 shares worth $427,000 after a similar addition of 62 shares.

Fidelis Capital Partners LLC grew its holdings by 2.7%, now owning 2,374 shares valued at $396,000 after an additional 62 shares were purchased. Trust Co. of Vermont also lifted its position by 3.1%, owning 2,240 shares worth $343,000 after acquiring 67 shares in the previous quarter. Moreover, CVA Family Office LLC increased its stake by 6.4%, owning 1,222 shares valued at about $187,000 following the purchase of 73 shares.

Overall, institutional investors and hedge funds currently possess 70.00% of Blackstone's shares.

Insider Transactions at Blackstone

Recent transactions in Blackstone have also drawn attention. On October 1st, Director Joseph Baratta sold 116,448 shares at an average price of $150.81, amounting to a total of $17,561,522.88. Post-transaction, Baratta holds 799,749 shares in the company, valued at around $120,610,146.69, marking no change in ownership percentage.

Another significant sale occurred on August 7th when insider John G. Finley sold 35,000 shares for $4,610,900 at an average price of $131.74. After this transaction, Finley still directly owns 429,386 shares, valued at approximately $56,567,311.64. Insiders currently hold about 1.00% of Blackstone's shares.

Current Stock Performance

As for Blackstone’s trading activity, shares opened at $168.14 on Friday. The company's 50-day and 200-day simple moving averages are $153.90 and $136.27, respectively. With a market capitalization of $121.07 billion, Blackstone has a P/E ratio of 57.78 and a PEG ratio of 1.47. The stock has fluctuated within a year from a low of $96.15 to a high of $175.94, with a debt-to-equity ratio of 0.58, current ratio of 0.71, and a quick ratio of 0.77.

Dividend Announcements

Recently, Blackstone declared a quarterly dividend set to be paid on November 4th. Stockholders who are on record by October 28th will receive a dividend of $0.86 per share, representing an annualized total of $3.44 and a dividend yield of 2.05%. This marks an increase from the previous quarterly dividend of $0.82, although the payout ratio currently stands at 118.21%.

Price Target Updates from Analysts

Many financial analysts have recently revised their price targets for Blackstone. Wells Fargo raised its target from $169.00 to $188.00, assigning the stock an 'overweight' rating. Barclays increased their price objective from $155.00 to $174.00, while Bank of America raised its target from $171.00 to $192.00. The Goldman Sachs Group and TD Cowen also lifted their price targets to $150.00 and $149.00, respectively.

A total of thirteen analysts recommend holding the stock, while six suggest buying it. Presently, Blackstone has a consensus rating of 'Hold' with an average price target set at $155.38.

Company Overview

Blackstone Inc. is a prominent alternative asset management firm. The company focuses on various sectors, including real estate, private equity, hedge fund solutions, credit, and additional investment strategies. They specialize in investing in startups and also provide capital market services.

Blackstone, Finance, Investors