Blackstone Inc. (NYSE:BX) Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC reduced its stake in shares of Blackstone Inc. (NYSE:BX) by 2.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,896 shares of the asset manager’s stock after selling 84 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Blackstone were worth $491,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BX. Norden Group LLC grew its position in Blackstone by 2,072.0% during the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock worth $4,802,000 after purchasing an additional 34,872 shares during the period. First Trust Direct Indexing L.P. grew its position in shares of Blackstone by 32.0% during the 1st quarter. First Trust Direct Indexing L.P. now owns 11,786 shares of the asset manager’s stock valued at $1,548,000 after acquiring an additional 2,858 shares during the period. Veracity Capital LLC grew its position in shares of Blackstone by 3.8% during the 1st quarter. Veracity Capital LLC now owns 3,152 shares of the asset manager’s stock valued at $414,000 after acquiring an additional 114 shares during the period. Maryland State Retirement & Pension System grew its position in shares of Blackstone by 0.9% during the 1st quarter. Maryland State Retirement & Pension System now owns 55,949 shares of the asset manager’s stock valued at $6,826,000 after acquiring an additional 474 shares during the period. Finally, Ashton Thomas Private Wealth LLC grew its position in shares of Blackstone by 27.4% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 20,585 shares of the asset manager’s stock valued at $2,704,000 after acquiring an additional 4,430 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BX has been the topic of a number of analyst reports. Wells Fargo & Company raised their target price on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. UBS Group raised their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Morgan Stanley raised their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Barclays raised their price target on shares of Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their price target on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average price target of $155.38.

Blackstone Stock Up 1.0 %

BX stock opened at $171.55 on Thursday. The firm has a market cap of $122.60 billion, a PE ratio of 60.62, a PEG 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 $152.67 and its 200-day moving average price is $135.62. Blackstone Inc. has a one year low of $91.14 and a one year high of $175.94.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is presently 121.55%.

Insider Activity at Blackstone

In related 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 completion of the sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’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 owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

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.