Institutional Investors Increase Stakes in Blackstone (BX) as Dividend Rises

Blackstone (BX) has seen significant interest from institutional investors. J.W. Cole Advisors Inc. increased its stake by 51.5%, bringing their total holdings to 77,009 shares, valued at $11.52 million. Longfellow Investment Management Co. LLC significantly increased its position by 259.8%, now holding 22,160 shares valued at $3.315 million, representing approximately 0.8% of their portfolio. Prudential Financial Inc. also increased its stake by 8.8%, owning 409,390 shares worth $61.24 million. Blackstone's stock opened at $142.59, with a 50-day moving average of $159.22 and a 200-day moving average of $158.07. The company has a market capitalization of $105.30 billion, a P/E ratio of 40.74, and a beta of 1.76. Recently, Blackstone increased its quarterly dividend to $1.29 per share, or $5.16 annualized, yielding 3.6%. However, its dividend payout ratio is high at 147.43%. Analysts have a consensus rating of "Moderate Buy" with an average target price of $179. Several analysts have updated their price targets, with Jefferies Financial Group decreasing their price target from $199.00 to $187.00. Insider activity includes Joseph Baratta selling 113,000 shares and James Breyer acquiring 13,900 shares. Institutional investors own approximately 70% of Blackstone's stock.

Blackstone increased its quarterly dividend to $1.29 per share, annualized to $5.16, yielding 3.6%.

The consensus rating is "Moderate Buy" with an average price target of $179.

J.W. Cole Advisors Inc., Longfellow Investment Management Co. LLC, and Prudential Financial Inc. have all increased their stakes recently.

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