Blackstone Inc. (NYSE:BX) Shares Sold by Brighton Jones LLC

Brighton Jones LLC cut its stake in shares of Blackstone Inc. (NYSE:BX) by 3.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,882 shares of the asset manager’s stock after selling 197 shares during the quarter. Brighton Jones LLC’s holdings in Blackstone were worth $901,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BX. Brookstone Capital Management increased its holdings in Blackstone by 40.9% during the 1st quarter. Brookstone Capital Management now owns 8,332 shares of the asset manager’s stock valued at $1,095,000 after acquiring an additional 2,417 shares in the last quarter. Aspiriant LLC acquired a new stake in shares of Blackstone in the first quarter valued at approximately $349,000. Kathmere Capital Management LLC grew its position in shares of Blackstone by 6.6% in the first quarter. Kathmere Capital Management LLC now owns 8,848 shares of the asset manager’s stock valued at $1,162,000 after purchasing an additional 545 shares during the last quarter. Independence Bank of Kentucky grew its position in shares of Blackstone by 281.3% in the first quarter. Independence Bank of Kentucky now owns 2,894 shares of the asset manager’s stock valued at $380,000 after purchasing an additional 2,135 shares during the last quarter. Finally, Trifecta Capital Advisors LLC acquired a new stake in shares of Blackstone in the first quarter valued at approximately $51,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on BX shares. Morgan Stanley increased their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. TD Cowen raised their target price on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. Redburn Atlantic assumed coverage on shares of Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research report on Wednesday, October 9th. Finally, Evercore ISI raised their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $155.38.

Blackstone Stock Performance

Shares of BX stock opened at $169.66 on Friday. The company’s fifty day simple moving average is $149.16 and its 200-day simple moving average is $134.15. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $175.94. 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 company has a market cap 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 Increases Dividend

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

Insider Activity

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