Farther Finance Advisors Increases Stake in Blackstone Inc.

Farther Finance Advisors LLC has significantly increased its investment in Blackstone Inc. (NYSE:BX - Free Report) by 45.9% during the third quarter. According to their recent filing with the SEC, the firm now holds 13,971 shares of Blackstone's stock after purchasing an additional 4,393 shares during this period. As of the end of the most recent quarter, Farther Finance Advisors' total investment in Blackstone was valued at approximately $2,139,000.

Other Institutional Investors Making Changes

Several other institutional investors have also adjusted their positions in Blackstone. For instance, Raleigh Capital Management Inc. increased its holdings by 32.1% in the third quarter, acquiring 255 shares valued at $39,000 after adding 62 additional shares. Similarly, Capital Advisors Ltd. LLC raised its stake by 2.3%, owning 2,787 shares worth $427,000 after purchasing 62 more shares.

Fidelis Capital Partners LLC also boosted its position in Blackstone by 2.7%, now owning 2,374 shares valued at $396,000, while Trust Co. of Vermont has increased its holdings by 3.1%, bringing its total to 2,240 shares valued at $343,000 after an acquisition of 67 shares. Lastly, CVA Family Office LLC raised its stake by 6.4%, ending the quarter with 1,222 shares worth $187,000. Notably, 70% of Blackstone's stock is currently held by institutional investors and hedge funds.

Insights on Insider Trading

In recent Blackstone news, Director Joseph Baratta sold 116,448 shares of the company on October 1st at an average price of $150.81. This transaction realized a total of $17,561,522.88. Following this sale, he retains ownership of 799,749 shares in the company, valued at $120,610,146.69, marking no significant change in ownership percentage. Additionally, insider John G. Finley sold 35,000 shares on August 7th for $4,610,900.00, leaving him with 429,386 shares valued at approximately $56,567,311.64. As a result, insiders now hold approximately 1% of the company's stock.

Blackstone Stock Performance

On the trading front, Blackstone shares opened at $168.14 recently, reflecting an increase of 0.2%. The company has a market capitalization of $121.07 billion, a P/E ratio of 57.78, and a PEG ratio of 1.47. Over the past year, Blackstone's stock has seen a low of $96.15 and a high of $175.94. The company has a debt-to-equity ratio of 0.58 alongside a quick ratio of 0.77 and a current ratio of 0.71.

Dividend Announcement

Recently, Blackstone declared a quarterly dividend of $0.86 per share, which will be distributed on November 4th to shareholders of record as of October 28th. This update showcases an increase from the previous quarterly dividend of $0.82. With this announcement, Blackstone's annualized dividend stands at $3.44, translating to a dividend yield of 2.05%. The company's payout ratio is currently recorded at 118.21%.

Analyst Activity and Price Targets

Multiple equity research analysts have updated their price targets for Blackstone shares. Wells Fargo & Company revised its target from $169.00 to $188.00 and rated the stock as "overweight." Barclays raised its price target from $155.00 to $174.00, while Bank of America increased its target from $171.00 to $192.00 with a "buy" rating. The Goldman Sachs Group moved its price objective from $135.00 to $150.00, maintaining a "neutral" rating. TD Cowen also raised its price target from $133.00 to $149.00, opting for a "hold" rating. Currently, thirteen investment analysts have assigned a "hold" rating to Blackstone, whereas six analysts have issued a "buy" rating. Overall, the consensus rating is a "Hold" with an average price target set at $155.38.

Blackstone Company Overview

Blackstone Inc. is an alternative asset management firm that specializes in various investment sectors, including real estate, private equity, hedge fund solutions, credit, and multi-asset class strategies. The firm typically invests in early-stage companies and provides capital market services.

Blackstone, Investment, Finance