Blackstone Inc. (NYSE:BX) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its stake in Blackstone Inc. (NYSE:BX) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,051 shares of the asset manager’s stock after purchasing an additional 1,495 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Blackstone were worth $13,943,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. West Financial Advisors LLC acquired a new stake in shares of Blackstone during the 3rd quarter valued at $27,000. Chilton Capital Management LLC acquired a new position in Blackstone in the 1st quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Blackstone during the 2nd quarter valued at about $26,000. EdgeRock Capital LLC acquired a new position in Blackstone in the second quarter worth approximately $27,000. Finally, Bank & Trust Co bought a new position in Blackstone during the second quarter valued at approximately $29,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Blackstone news, insider John G. Finley sold 35,000 shares of the firm’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 transaction of $4,610,900.00. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated 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 approximately $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Baratta sold 116,448 shares of the firm’s 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 directly owns 799,749 shares in the company, valued at $120,610,146.69. This 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 company insiders.

Blackstone Trading Down 1.9 %

Shares of NYSE BX traded down $3.16 during mid-day trading on Tuesday, hitting $167.61. The company’s stock had a trading volume of 1,190,659 shares, compared to its average volume of 3,440,688. Blackstone Inc. has a one year low of $88.59 and a one year high of $175.94. The stock has a market cap of $119.78 billion, a price-to-earnings ratio of 60.32, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The company’s fifty day simple moving average is $147.84 and its 200-day simple moving average is $133.63.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.05%. The ex-dividend date is Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is presently 121.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BX shares. Barclays upped their target price on Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday. JPMorgan Chase & Co. lifted their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday. UBS Group raised their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Wells Fargo & Company raised their target price on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a report on Friday. Finally, Cowen restated a “hold” rating on shares of Blackstone 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $155.38.

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.