Blackstone Inc. (NYSE:BX) Shares Sold by US Bancorp DE

US Bancorp DE trimmed its position in Blackstone Inc. (NYSE:BX) by 1.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 152,214 shares of the asset manager’s stock after selling 2,107 shares during the period. US Bancorp DE’s holdings in Blackstone were worth $23,309,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $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 is accessible through the SEC website. In related 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 value 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John G. Finley sold 35,000 shares of the stock in a transaction 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 transaction, the insider now 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 disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.2 %

NYSE BX opened at $168.14 on Friday. The firm’s 50 day moving average price is $153.90 and its two-hundred day moving average price is $136.17. The stock has a market cap of $121.07 billion, a price-to-earnings ratio of 57.78, a PEG ratio of 1.47 and a beta of 1.51. Blackstone Inc. has a twelve month low of $96.15 and a twelve month high of $175.94. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be paid a $0.86 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 2.05%. The ex-dividend date is Monday, October 28th. Blackstone’s dividend payout ratio is currently 118.21%.

Wall Street Analyst Weigh In

BX has been the subject of a number of recent research reports. Redburn Atlantic started coverage on Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective for the company. Evercore ISI boosted their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company upped their price objective on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. TD Cowen upped their price target on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. Finally, Morgan Stanley increased their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $155.38.

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.