Wed Sep 11 09:29:00 UTC 2024: ## Victory Capital Boosts Blackstone Holdings, Other Institutional Investors Follow Suit
**New York, NY – September 11, 2024** – Victory Capital Management Inc. has increased its stake in Blackstone Inc. (NYSE:BX) by 8.8% in the second quarter, according to HoldingsChannel.com. The institutional investor now owns 250,163 shares of the asset manager, valued at $30,970,000.
Victory Capital is not alone in its bullish stance on Blackstone. Several other hedge funds and institutional investors have also increased their positions in the company during recent quarters. Congress Wealth Management LLC DE, Nomura Asset Management Co. Ltd., TD Asset Management Inc, and Wealth Enhancement Advisory Services LLC all saw notable increases in their Blackstone holdings.
Notably, Norden Group LLC dramatically raised its position in Blackstone by 2,072.0% in the first quarter, now owning 36,555 shares.
Analysts are also optimistic about Blackstone. Redburn Atlantic initiated coverage on the stock with a “neutral” rating and a $134.00 price target, while Barclays, Bank of America, Morgan Stanley, and Deutsche Bank Aktiengesellschaft have all raised their price targets.
Despite a slight miss on earnings per share in the last quarter, Blackstone continues to see strong revenue growth. The company recently announced a quarterly dividend of $0.82 per share, representing a yield of 2.31%.
Insiders have also been active in the stock, with John G. Finley selling 35,000 shares in August and Joseph Baratta selling 116,448 shares in July.
Blackstone’s stock opened at $142.23 on Wednesday, with a market cap of $102.42 billion. The company specializes in alternative asset management, including real estate, private equity, and credit investments.
Investors interested in staying up-to-date on Blackstone can visit HoldingsChannel.com for the latest 13F filings and insider trades. MarketBeat.com also offers a free daily email newsletter with news and analyst ratings for Blackstone and related companies.
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