Farther Finance Advisors LLC Increases Stake in Blackstone Inc.

Farther Finance Advisors LLC has significantly raised its stake in Blackstone Inc. (NYSE:BX) by 45.9% during the third quarter. According to the latest filing with the SEC, the firm now owns a total of 13,971 shares after acquiring an additional 4,393 shares during this period. The value of Farther Finance Advisors LLC's holdings in Blackstone reached approximately $2,139,000 by the end of the quarter.

Other Institutional Investors' Moves

Several other institutional investors also adjusted their positions in Blackstone recently. Raleigh Capital Management Inc. increased its ownership by 32.1% in the third quarter, now holding 255 shares valued at $39,000 after buying an additional 62 shares. Capital Advisors Ltd. LLC raised its stake by 2.3%, now owning 2,787 shares worth $427,000 after acquiring an extra 62 shares in the last quarter. Additionally, Fidelis Capital Partners LLC grew its position by 2.7%, with current holdings of 2,374 shares valued at $396,000 following the purchase of 62 extra shares. Trust Co. of Vermont boosted its holdings by 3.1%, now owning 2,240 shares worth $343,000. Finally, CVA Family Office LLC increased its stake by 6.4%, owning 1,222 shares valued at $187,000 after buying 73 more shares. Currently, 70.00% of Blackstone's shares are held by institutional investors and hedge funds.

Insider Transactions at Blackstone

In addition to changes in institutional investments, there have been some notable insider activities at Blackstone. Director Joseph Baratta sold 116,448 shares on October 1st for an average price of $150.81, totaling over $17.5 million. After this transaction, Baratta retains ownership of 799,749 shares valued at around $120.6 million, which saw no change in ownership percentage. Another insider, John G. Finley, sold 35,000 shares on August 7th, fetching an average price of $131.74 for a total of approximately $4.6 million. Post-transaction, Finley owns 429,386 shares valued around $56.6 million, which also reflects no change in percentage ownership. Insiders collectively own about 1.00% of Blackstone's stock.

Blackstone's Stock Performance

As of Friday, Blackstone's stock opened at $168.14. The company has a market capitalization of $121.07 billion and displays a P/E ratio of 57.78 along with a PEG ratio of 1.47. The stock has fluctuated between a one-year low of $96.15 and a high of $175.94. Blackstone's current financial metrics include a debt-to-equity ratio of 0.58 and current and quick ratios of 0.71 and 0.77, respectively.

Dividend Announcements

Blackstone recently announced a quarterly dividend of $0.86 per share, set to be distributed on November 4th. Shareholders of record by October 28th will receive this dividend, which corresponds to an annualized dividend of $3.44, resulting in a dividend yield of 2.05%. This is an increase compared to the previous quarterly dividend of $0.82. Currently, Blackstone's payout ratio stands at 118.21%.

Analyst Ratings and Projections

Investment analysts have been active in revising their price targets for Blackstone shares. Wells Fargo & Company bumped its target from $169.00 to $188.00, assigning an "overweight" rating. Barclays raised its price objective from $155.00 to $174.00 with an "equal weight" rating. Bank of America increased its price forecast from $171.00 to $192.00 and rated the stock as a "buy." Goldman Sachs also updated their target from $135.00 to $150.00 while maintaining a "neutral" rating. TD Cowen revised its price from $133.00 to $149.00, classifying the stock as a "hold." Currently, 13 analysts have proposed a hold rating, while 6 have provided a buy rating, resulting in an average price target of $155.38 based on aggregated data.

About Blackstone Inc.

Blackstone Inc. is an alternative asset management firm specializing in various areas including real estate, private equity, hedge fund solutions, credit strategies, and multi-asset class investments. The company also offers capital market services and tends to invest in early-stage companies.

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