Community Financial Services Group LLC Has $867,000 Stake in Blackstone Inc. (NYSE:BX)

Community Financial Services Group LLC cut its stake in shares of Blackstone Inc. (NYSE:BX) by 15.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,665 shares of the asset manager’s stock after selling 1,000 shares during the quarter. Community Financial Services Group LLC’s holdings in Blackstone were worth $867,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BX. Trust Co. of Vermont raised its position in shares of Blackstone by 3.1% in the 3rd quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock worth $343,000 after acquiring an additional 67 shares in the last quarter. CVA Family Office LLC raised its position in shares of Blackstone by 6.4% in the 3rd quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock worth $187,000 after acquiring an additional 73 shares in the last quarter. Moseley Investment Management Inc. raised its position in shares of Blackstone by 0.7% in the 2nd quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock worth $1,391,000 after acquiring an additional 74 shares in the last quarter. Patrick M Sweeney & Associates Inc. increased its position in Blackstone by 0.6% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after buying an additional 80 shares in the last quarter. Finally, Signaturefd LLC increased its position in Blackstone by 0.6% in the 2nd quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock valued at $1,686,000 after buying an additional 80 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Down 1.0 %

NYSE:BX opened at $170.70 on Tuesday. The company has a market cap 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 Inc. has a 1 year low of $88.59 and a 1 year high of $175.94. The stock’s fifty day moving average price is $147.84 and its two-hundred day moving average price 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.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors 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%. The ex-dividend date is Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 121.55%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. TD Cowen boosted their target price on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research report on Friday. Morgan Stanley boosted their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Cowen reissued a “hold” rating on shares of Blackstone in a report on Friday. Wells Fargo & Company boosted their target price on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, The Goldman Sachs Group boosted their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $155.38.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on 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 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 Blackstone news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction dated 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 $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $17,561,522.88. Following the sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

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.