Deseret Mutual Benefit Administrators Lowers Stake in Blackstone Inc. (NYSE:BX)

Deseret Mutual Benefit Administrators trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 6.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,988 shares of the asset manager’s stock after selling 135 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Blackstone were worth $304,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Chilton Capital Management LLC purchased a new position in Blackstone in the 1st quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Blackstone in the second quarter worth $26,000. EdgeRock Capital LLC purchased a new stake in shares of Blackstone during the second quarter valued at $27,000. West Financial Advisors LLC purchased a new position in Blackstone in the 3rd quarter worth about $27,000. Finally, Bank & Trust Co purchased a new stake in shares of Blackstone during the 2nd quarter valued at about $29,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. JPMorgan Chase & Co. raised their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Redburn Atlantic assumed coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price on the stock. Wells Fargo & Company upped their price target on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Bank of America boosted their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus price target of $155.38.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Down 0.9 %

BX stock opened at $174.71 on Thursday. The company has a market capitalization of $125.80 billion, a price-to-earnings ratio of 60.61, a PEG ratio of 1.44 and a beta of 1.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.77. Blackstone Inc. has a 1-year low of $96.15 and a 1-year high of $178.30. The business has a 50 day simple moving average of $155.70 and a two-hundred day simple moving average of $137.33.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 1.97%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is presently 118.21%.

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.