Principal Securities Inc. Has $2.58 Million Stake in Blackstone Inc. (NYSE:BX)

03 Nov 2024, 09:42 by Danessa Lincoln · The Markets Daily

Principal Securities Inc. decreased its position in shares of Blackstone Inc. (NYSE:BX – Free Report) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,865 shares of the asset manager’s stock after selling 927 shares during the period. Principal Securities Inc.’s holdings in Blackstone were worth $2,582,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of the firm’s 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 transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley raised their price objective on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Barclays raised their price target on shares of Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, The Goldman Sachs Group increased their price objective on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a 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 stock. According to MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus price target of $155.38.

Check Out Our Latest Stock Report on Blackstone

Blackstone Price Performance

Shares of BX opened at $168.14 on Friday. The business’s 50 day moving average price is $153.90 and its two-hundred day moving average price is $136.27. The firm has a market cap of $121.07 billion, a PE ratio of 57.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. Blackstone Inc. has a 52-week low of $96.15 and a 52-week high of $175.94.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be paid a $0.86 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Monday, October 28th. Blackstone’s payout ratio is 118.21%.

Blackstone Profile

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