Patriot Financial Group Insurance Agency LLC Sells 345 Shares of Blackstone Inc. (NYSE:BX)

Patriot Financial Group Insurance Agency LLC cut its holdings in Blackstone Inc. (NYSE:BX) by 10.6% during the third quarter, Holdings Channel reports. The firm owned 2,903 shares of the asset manager’s stock after selling 345 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Blackstone were worth $445,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in BX. Wulff Hansen & CO. lifted its holdings in Blackstone by 12,192.7% in the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after purchasing an additional 7,281,128 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after purchasing an additional 4,173,971 shares in the last quarter. Capital World Investors increased its stake in Blackstone by 7.5% in the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after acquiring an additional 2,546,886 shares during the last quarter. Lazard Asset Management LLC increased its stake in Blackstone by 19,048.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock worth $247,423,000 after acquiring an additional 1,873,573 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Blackstone by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after acquiring an additional 1,290,324 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were 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 directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were 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 approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of BX stock opened at $169.81 on Wednesday. The company’s 50-day simple moving average is $151.93 and its two-hundred day simple moving average is $135.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. Blackstone Inc. has a one year low of $90.43 and a one year high of $175.94. The company has a market capitalization of $121.35 billion, a P/E ratio of 60.00, a P/E/G ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be given a dividend of $0.86 per share. The ex-dividend date is Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 2.03%. Blackstone’s payout ratio is 121.55%.

Analyst Ratings Changes

A number of analysts have issued reports on BX shares. The Goldman Sachs Group lifted their price objective on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their price objective on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Bank of America boosted their target price on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Barclays lifted their price objective on shares of Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $155.38.

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.