Blackstone Inc. (NYSE:BX) Shares Sold by GFG Capital LLC

GFG Capital LLC decreased its holdings in Blackstone Inc. (NYSE:BX) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 84,211 shares of the asset manager’s stock after selling 938 shares during the quarter. Blackstone accounts for approximately 3.3% of GFG Capital LLC’s holdings, making the stock its 8th biggest holding. GFG Capital LLC’s holdings in Blackstone were worth $12,895,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Trust Co. of Vermont increased its position in Blackstone by 3.1% in the third quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock worth $343,000 after purchasing an additional 67 shares during the period. CVA Family Office LLC grew its stake in Blackstone by 6.4% in the third quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock valued at $187,000 after acquiring an additional 73 shares during the period. Moseley Investment Management Inc. raised its position in shares of Blackstone by 0.7% during the second quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock worth $1,391,000 after purchasing an additional 74 shares during the period. Patrick M Sweeney & Associates Inc. increased its stake in Blackstone by 0.6% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock worth $1,713,000 after purchasing an additional 80 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Blackstone by 0.6% in the second quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock valued at $1,686,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

NYSE BX opened at $170.70 on Tuesday. The company has a fifty day moving average of $147.84 and a 200-day moving average of $133.63. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $175.94. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market capitalization of $121.99 billion, a P/E ratio of 60.32, a P/E/G ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

The firm also recently declared 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. The ex-dividend date is Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 2.02%. Blackstone’s payout ratio is currently 121.55%.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 35,000 shares of the stock in a transaction 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 completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated 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 transaction, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John G. Finley sold 35,000 shares of the 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 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. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wells Fargo & Company boosted their target price on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group boosted their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays upped their price target on shares of Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Morgan Stanley boosted 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 data from MarketBeat, Blackstone has an average rating of “Hold” and a consensus price target of $155.38.

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.