Silvant Capital Management LLC Makes New $48,000 Investment in Blackstone Inc. (NYSE:BX)

Silvant Capital Management LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 315 shares of the asset manager’s stock, valued at approximately $48,000.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley upped their target price 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. Evercore ISI increased their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. BMO Capital Markets increased their price objective on shares of Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research note on Wednesday, October 9th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and a consensus target price of $155.38.

Blackstone Stock Up 0.2 %

Shares of NYSE:BX opened at $168.14 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. Blackstone Inc. has a 1-year low of $96.15 and a 1-year high of $175.94. The company’s fifty day moving average is $153.90 and its two-hundred day moving average is $136.27. The stock has a market capitalization of $121.07 billion, a price-to-earnings ratio of 57.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.51.

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 $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Insider Buying and Selling

In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 35,000 shares of the firm’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 transaction, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

About Blackstone

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.