Farther Finance Advisors LLC Increases Stake in Blackstone Inc.

Farther Finance Advisors LLC has significantly increased its investment in Blackstone Inc. (NYSE:BX) by 45.9% during the third quarter, as reported in its latest filing with the SEC. The firm acquired an additional 4,393 shares, bringing its total holdings in the asset management company to 13,971 shares. At the close of the third quarter, Farther Finance Advisors LLC's investment in Blackstone was valued at approximately $2,139,000.

Other Institutional Investors' Activities

In addition to Farther Finance Advisors LLC, several other institutional investors have also adjusted their positions in Blackstone. Notably, Raleigh Capital Management Inc. increased its holdings by 32.1% during the same quarter, owning 255 shares worth around $39,000 after adding 62 shares. Capital Advisors Ltd. LLC raised its stake modestly by 2.3%, owning 2,787 shares valued at $427,000 after buying 62 additional shares. Similarly, Fidelis Capital Partners LLC increased its position by 2.7%, now holding 2,374 shares worth about $396,000 after acquiring 62 shares. Trust Co. of Vermont lifted its stake by 3.1%, resulting in ownership of 2,240 shares valued at around $343,000, while CVA Family Office LLC boosted its stake by 6.4%, leading to ownership of 1,222 shares valued at $187,000. Institutional investors and hedge funds currently hold about 70.00% of Blackstone's stock.

Insider Transactions at Blackstone

In related news, Joseph Baratta, a director at Blackstone, sold a sizable amount of shares, totaling 116,448, on October 1st, at an average price of $150.81 per share, which amounted to over $17.5 million. After the sale, Baratta holds 799,749 shares, valued at around $120.6 million. Another insider, John G. Finley, also sold 35,000 shares on August 7th for approximately $4.6 million. Following these transactions, insiders collectively own 1.00% of the company's stock.

Current Stock Performance

As of the latest trading session, Blackstone shares opened at $168.14. The company has shown favorable trading activity, with a 50-day moving average of $153.90 and a 200-day moving average of $136.27. The firm's market cap is currently $121.07 billion, with a price-to-earnings ratio of 57.78, earnings growth reflected by a PEG ratio of 1.47, and a beta of 1.51. Over the past year, Blackstone's stock has fluctuated between a low of $96.15 and a high of $175.94.

Dividend Declaration

Recently, Blackstone declared a quarterly dividend of $0.86 per share, which will be distributed on November 4th to shareholders recorded as of October 28th. This payout signifies an increase from the previous quarter's dividend of $0.82, equating to an annualized dividend of $3.44, reflecting a dividend yield of 2.05%. Blackstone's current payout ratio stands at 118.21%.

Analyst Ratings and Price Targets

Equities research analysts have been reviewing Blackstone's stock, with several raising their price targets. Wells Fargo recently increased its target from $169.00 to $188.00, while Barclays upped theirs from $155.00 to $174.00. Bank of America also raised its target from $171.00 to $192.00. Goldman Sachs and TD Cowen have adjusted their targets to $150.00 and $149.00, respectively. Presently, the consensus among analysts indicates a "Hold" rating, with an average price target of $155.38.

Understanding Blackstone Inc.

Blackstone Inc. is renowned as an alternative asset management firm, specializing in areas such as real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity, and multi-asset class strategies. The firm typically directs investments towards early-stage companies and also provides capital market services.

investment, stocks, finance