Pittenger & Anderson Inc. Has $2.29 Million Holdings in Blackstone Inc. (NYSE:BX)

06 Nov 2024, 11:56 by Danessa Lincoln · The Markets Daily

Pittenger & Anderson Inc. lifted its holdings in Blackstone Inc. (NYSE:BX – Free Report) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,970 shares of the asset manager’s stock after acquiring an additional 645 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Blackstone were worth $2,292,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Chilton Capital Management LLC acquired a new position in Blackstone during the 1st quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone during the 2nd quarter valued at about $26,000. EdgeRock Capital LLC acquired a new stake in shares of Blackstone during the 2nd quarter worth approximately $27,000. West Financial Advisors LLC acquired a new position in Blackstone in the third quarter valued at approximately $27,000. Finally, Bank & Trust Co acquired a new stake in Blackstone during the 2nd quarter worth $29,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Joseph Baratta sold 116,448 shares of the company’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 sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BX shares. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. UBS Group upped their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their price objective on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $155.38.

Read Our Latest Research Report on BX

Blackstone Price Performance

NYSE:BX opened at $169.61 on Wednesday. The stock’s 50-day simple moving average is $154.97 and its 200 day simple moving average is $137.05. Blackstone Inc. has a 52-week low of $96.15 and a 52-week high of $175.94. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. The company has a market cap of $122.13 billion, a P/E ratio of 58.29, a P/E/G ratio of 1.44 and a beta of 1.49.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a $0.86 dividend. The ex-dividend date was Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 2.03%. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Blackstone Company Profile

(Free Report)