Blackstone Inc. (NYSE:BX) Shares Sold by Blue Trust Inc.

Blue Trust Inc. lowered its position in shares of Blackstone Inc. (NYSE:BX) by 33.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,985 shares of the asset manager’s stock after selling 1,973 shares during the period. Blue Trust Inc.’s holdings in Blackstone were worth $610,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Blackstone by 1.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after buying an additional 7,692 shares during the period. Norden Group LLC increased its holdings in shares of Blackstone by 2,072.0% in the first quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after purchasing an additional 34,872 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Blackstone by 10.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock worth $614,000 after purchasing an additional 459 shares during the period. Chesley Taft & Associates LLC grew its position in Blackstone by 17.6% in the 1st quarter. Chesley Taft & Associates LLC now owns 89,072 shares of the asset manager’s stock valued at $11,701,000 after buying an additional 13,360 shares during the last quarter. Finally, Carret Asset Management LLC raised its position in Blackstone by 20.9% during the 1st quarter. Carret Asset Management LLC now owns 46,645 shares of the asset manager’s stock worth $6,128,000 after buying an additional 8,050 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BX shares. BMO Capital Markets boosted their price target on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research note on Friday. TD Cowen raised their price target on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday. Morgan Stanley increased their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Bank of America upped their price target on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $155.38.

Blackstone Price Performance

Blackstone stock opened at $170.70 on Tuesday. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $175.94. The firm’s 50-day moving average is $147.84 and its two-hundred day moving average is $133.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $121.99 billion, a P/E ratio of 60.32, a P/E/G ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.02%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is presently 121.55%.

Insider Transactions at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the 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 transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the firm’s 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 transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The trade was 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 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.