Farther Finance Advisors Increases Stake in Blackstone Inc.

Farther Finance Advisors LLC has significantly enhanced its investment in Blackstone Inc. (NYSE:BX - Free Report) by 45.9% during the third quarter, as reported in their latest filing with the SEC. Following this increase, Farther Finance now holds a total of 13,971 shares of the renowned asset management firm, having added 4,393 shares during the quarter. By the end of the most recent quarter, these shares were valued at approximately $2,139,000.

Changes in Institutional Holdings

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% in the third quarter, now owning 255 shares valued at $39,000 after buying 62 more shares. Capital Advisors Ltd. LLC increased its stake by 2.3%, now owning 2,787 shares worth $427,000 after similarly buying 62 shares. Fidelis Capital Partners LLC also saw a 2.7% rise in its stake, owning 2,374 shares with a value of $396,000 after making a similar purchase. Trust Co. of Vermont boosted its position by 3.1% and now owns 2,240 shares valued at $343,000, while CVA Family Office LLC increased its ownership by 6.4%, owning 1,222 shares valued at $187,000. It is noteworthy that institutional investors and hedge funds currently hold about 70.00% of Blackstone's stock.

Recent Insider Transactions

In terms of insider activity, Director Joseph Baratta sold 116,448 shares of Blackstone's stock on October 1st for an average price of $150.81, totaling around $17,561,522.88. After this transaction, Baratta retains ownership of 799,749 shares, valued at approximately $120,610,146.69, marking no change in ownership percentage. Additionally, John G. Finley, another insider, divested 35,000 shares on August 7th at an average price of $131.74, with a total transaction value of $4,610,900. Following this sale, Finley holds 429,386 shares valued at about $56,567,311.64, with no change in ownership percentage as well. Overall, insider ownership constitutes around 1.00% of the company's shares.

Stock Performance

As for stock performance, Blackstone shares opened at $168.14 on Friday, with a 50-day simple moving average of $153.90 and a 200-day simple moving average of $136.27. The company has a market capitalization of $121.07 billion, a P/E ratio of 57.78, a PEG ratio of 1.47, and a beta of 1.51. Over the past year, the stock reached a low of $96.15 and a high of $175.94. The firm also maintains a debt-to-equity ratio of 0.58, a quick ratio of 0.77, and a current ratio of 0.71.

Dividend Announcement

Blackstone has recently declared a quarterly dividend, which will be distributed on Monday, November 4th. Shareholders on record as of Monday, October 28th, will receive a dividend of $0.86 per share, amounting to an annualized dividend of $3.44 and a dividend yield of 2.05%. This is an increase from the previous quarterly dividend of $0.82. However, it's important to note that Blackstone's current payout ratio stands at 118.21%.

Analyst Ratings and Price Targets

Several equity research analysts have revised their price targets for Blackstone. Wells Fargo & Company raised its target from $169.00 to $188.00, maintaining an "overweight" rating. Barclays also boosted its target from $155.00 to $174.00 while giving an "equal weight" rating. Bank of America increased its target to $192.00 with a "buy" rating, and the Goldman Sachs Group lifted its target from $135.00 to $150.00, maintaining a "neutral" rating. The consensus among analysts currently indicates a "hold" rating, with an average price target of $155.38 based on MarketBeat data.

About Blackstone Inc.

Blackstone Inc. is a leading alternative asset management firm that specializes in various investment areas including real estate, private equity, hedge fund solutions, credit, and multi-asset class strategies. The firm primarily focuses on investments in early-stage companies, along with providing capital markets services.

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