Blackstone Inc. (NYSE:BX) Shares Sold by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 11.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,157 shares of the asset manager’s stock after selling 411 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Blackstone were worth $483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BX. Chilton Capital Management LLC acquired a new stake in Blackstone during the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Blackstone during the second quarter worth $26,000. EdgeRock Capital LLC bought a new stake in Blackstone during the second quarter valued at $27,000. West Financial Advisors LLC bought a new position in shares of Blackstone in the 3rd quarter worth about $27,000. Finally, Bank & Trust Co acquired a new stake in Blackstone during the second quarter worth about $29,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Trading Up 1.6 %

Blackstone stock opened at $169.66 on Friday. The firm has a market cap of $121.25 billion, a price-to-earnings ratio of 59.95, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The firm’s 50 day moving average price is $149.16 and its two-hundred day moving average price is $134.15. Blackstone Inc. has a 1 year low of $88.59 and a 1 year high of $175.94.

Blackstone Increases Dividend

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

Insiders Place Their Bets

In other news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was 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 in the company, valued at $120,610,146.69. This trade represents 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.

Analysts Set New Price Targets

Several brokerages recently issued reports on BX. Citigroup raised their price target on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. UBS Group boosted their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Morgan Stanley lifted their price objective 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. BMO Capital Markets lifted their price target on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Piper Sandler cut 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. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.