Blackstone Inc. (NYSE:BX) Shares Purchased by Greenleaf Trust

Greenleaf Trust lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 27.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,911 shares of the asset manager’s stock after purchasing an additional 1,262 shares during the quarter. Greenleaf Trust’s holdings in Blackstone were worth $905,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in BX. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Blackstone by 30.3% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 4,949 shares of the asset manager’s stock valued at $758,000 after buying an additional 1,150 shares during the period. Marietta Wealth Management LLC lifted its stake in Blackstone by 2.1% in the third quarter. Marietta Wealth Management LLC now owns 54,145 shares of the asset manager’s stock worth $8,291,000 after acquiring an additional 1,110 shares during the last quarter. Blodgett Wealth Advisors LLC purchased a new stake in shares of Blackstone in the 3rd quarter valued at approximately $214,000. Leo Wealth LLC lifted its position in shares of Blackstone by 2.3% during the 3rd quarter. Leo Wealth LLC now owns 6,484 shares of the asset manager’s stock worth $993,000 after purchasing an additional 144 shares during the last quarter. Finally, Eastern Bank purchased a new position in Blackstone in the third quarter valued at $1,589,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of BX opened at $169.66 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average is $149.16 and its two-hundred day moving average is $134.15. The firm has a market capitalization of $121.25 billion, a PE ratio of 59.95, a P/E/G ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a twelve month low of $88.59 and a twelve month high of $175.94.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a $0.86 dividend. The ex-dividend date of this dividend is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 2.03%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is 121.55%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Citigroup upped their price objective on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Cowen reissued a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Barclays increased their target price on shares of Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Evercore ISI raised their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, TD Cowen upped their target price on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $155.38.

Insider Activity

In other news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John G. Finley sold 35,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.