Hennion & Walsh Asset Management Inc. Reduces Holdings in Blackstone Inc. (NYSE:BX)

Hennion & Walsh Asset Management Inc. trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,616 shares of the asset manager’s stock after selling 318 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Blackstone were worth $3,317,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Chilton Capital Management LLC purchased a new position in Blackstone in the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Blackstone during the 2nd quarter valued at $26,000. EdgeRock Capital LLC bought a new stake in shares of Blackstone in the 2nd quarter worth about $27,000. West Financial Advisors LLC acquired a new position in Blackstone in the third quarter worth about $27,000. Finally, Bank & Trust Co acquired a new stake in Blackstone during the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Up 1.6 %

BX opened at $169.66 on Friday. The stock’s fifty day moving average is $149.16 and its 200-day moving average is $134.15. The company 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 one year low of $88.59 and a one year high of $175.94. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77.

Blackstone Increases Dividend

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

Analyst Ratings Changes

BX has been the topic of several research reports. Citigroup upped their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company lifted their price target on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a report on Friday, October 18th. BMO Capital Markets raised their target price on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a report on Wednesday, October 9th. Finally, Evercore ISI upped their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $155.38.

Insider Buying and Selling

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

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.