Romano Brothers AND Company Reduces Position in Blackstone Inc. (NYSE:BX)

Romano Brothers AND Company trimmed its holdings in Blackstone Inc. (NYSE:BX) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,119 shares of the asset manager’s stock after selling 300 shares during the quarter. Romano Brothers AND Company’s holdings in Blackstone were worth $478,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Chilton Capital Management LLC purchased a new position in Blackstone in the 1st quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Blackstone during the second quarter worth approximately $26,000. EdgeRock Capital LLC bought a new stake in shares of Blackstone during the second quarter valued at approximately $27,000. West Financial Advisors LLC bought a new position in Blackstone in the third quarter worth approximately $27,000. Finally, Bank & Trust Co purchased a new stake in shares of Blackstone in the 2nd quarter worth $29,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BX shares. Cowen restated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. upped their target price on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. The Goldman Sachs Group boosted their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Barclays lifted their target price on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus price target of $155.38.

Blackstone Trading Up 1.6 %

Blackstone stock opened at $169.66 on Friday. Blackstone Inc. has a 52 week low of $88.59 and a 52 week high of $175.94. The stock has a 50-day moving average price of $149.16 and a 200 day moving average price of $134.15. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The company has a market capitalization 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.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.03%. 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 (DPR) is 121.55%.

Insiders Place Their Bets

In related news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred 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 transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The sale 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 the business’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 value of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This trade represents 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.