Mattern Wealth Management LLC Has $341,000 Stock Position in Blackstone Inc. (NYSE:BX)

Mattern Wealth Management LLC cut its position in shares of Blackstone Inc. (NYSE:BX) by 18.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,228 shares of the asset manager’s stock after selling 500 shares during the period. Mattern Wealth Management LLC’s holdings in Blackstone were worth $341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Argus Investors Counsel Inc. raised its stake in shares of Blackstone by 5.4% in the 3rd quarter. Argus Investors Counsel Inc. now owns 1,875 shares of the asset manager’s stock valued at $287,000 after buying an additional 96 shares in the last quarter. Oakworth Capital Inc. lifted its stake in Blackstone by 5.3% during the third quarter. Oakworth Capital Inc. now owns 1,864 shares of the asset manager’s stock worth $285,000 after purchasing an additional 94 shares during the period. Foundations Investment Advisors LLC boosted its holdings in Blackstone by 13.2% during the third quarter. Foundations Investment Advisors LLC now owns 42,220 shares of the asset manager’s stock valued at $6,465,000 after purchasing an additional 4,936 shares in the last quarter. Roof Eidam Maycock Peralta LLC increased its position in shares of Blackstone by 15.1% during the 3rd quarter. Roof Eidam Maycock Peralta LLC now owns 2,865 shares of the asset manager’s stock worth $439,000 after purchasing an additional 375 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its stake in shares of Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Insider Buying and Selling at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider John G. Finley sold 35,000 shares of the firm’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 directly owns 429,386 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the 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 completion of the sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the subject of several research analyst reports. Redburn Atlantic initiated coverage on Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective for the company. Bank of America raised their price objective on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday. TD Cowen raised their price target on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday. Morgan Stanley increased their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, BMO Capital Markets increased their price target on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research note on Friday. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average target price of $155.38.

Blackstone Stock Down 1.9 %

BX traded down $3.29 during trading on Tuesday, hitting $167.48. The company had a trading volume of 1,060,925 shares, compared to its average volume of 3,440,288. The firm’s 50-day moving average price is $147.84 and its 200 day moving average price is $133.63. The company has a market capitalization of $119.69 billion, a PE ratio of 60.32, a PEG ratio of 1.24 and a beta of 1.51. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a one year low of $88.59 and a one year high of $175.94.

Blackstone Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.05%. Blackstone’s dividend payout ratio (DPR) is presently 121.55%.

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.