Marietta Wealth Management LLC Purchases 1,110 Shares of Blackstone Inc. (NYSE:BX)

Marietta Wealth Management LLC increased its position in Blackstone Inc. (NYSE:BX) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 54,145 shares of the asset manager’s stock after acquiring an additional 1,110 shares during the quarter. Blackstone comprises 1.2% of Marietta Wealth Management LLC’s investment portfolio, making the stock its 26th largest holding. Marietta Wealth Management LLC’s holdings in Blackstone were worth $8,291,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Chilton Capital Management LLC bought a new stake in shares of Blackstone during the 1st quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Blackstone in the second quarter worth about $26,000. EdgeRock Capital LLC purchased a new position in Blackstone during the second quarter valued at approximately $27,000. West Financial Advisors LLC purchased a new stake in Blackstone in the 3rd quarter worth approximately $27,000. Finally, Bank & Trust Co purchased a new position in shares of Blackstone during the 2nd quarter valued at $29,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BX shares. Morgan Stanley lifted their price objective on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group upped their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. boosted their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. BMO Capital Markets lifted their price objective on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, Barclays raised their price target on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average target price of $155.38.

Insider Transactions at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Tuesday, October 1st. The shares were 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 directly 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 Securities & Exchange Commission, which is available at this link. In related news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of NYSE:BX opened at $168.48 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The company has a market cap of $120.40 billion, a price-to-earnings ratio of 59.53, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $175.94. The company has a 50-day moving average price of $148.54 and a 200-day moving average price of $133.92.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be given a dividend of $0.86 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Monday, October 28th. Blackstone’s payout ratio is presently 121.55%.

About Blackstone

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.