Blackstone Inc. (NYSE:BX) Shares Sold by Bristlecone Advisors LLC

Bristlecone Advisors LLC decreased its position in Blackstone Inc. (NYSE:BX) by 6.0% in the third quarter, Holdings Channel reports. The institutional investor owned 2,138 shares of the asset manager’s stock after selling 137 shares during the period. Bristlecone Advisors LLC’s holdings in Blackstone were worth $327,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of BX. Brookstone Capital Management lifted its holdings in Blackstone by 40.9% during the first quarter. Brookstone Capital Management now owns 8,332 shares of the asset manager’s stock valued at $1,095,000 after purchasing an additional 2,417 shares in the last quarter. LVW Advisors LLC boosted its holdings in Blackstone by 10.1% in the 1st quarter. LVW Advisors LLC now owns 1,852 shares of the asset manager’s stock worth $243,000 after buying an additional 170 shares during the last quarter. Diversified Trust Co raised its holdings in shares of Blackstone by 29.7% during the first quarter. Diversified Trust Co now owns 10,724 shares of the asset manager’s stock valued at $1,409,000 after acquiring an additional 2,456 shares during the last quarter. Claro Advisors LLC boosted its stake in shares of Blackstone by 8.5% in the first quarter. Claro Advisors LLC now owns 5,875 shares of the asset manager’s stock worth $772,000 after acquiring an additional 459 shares during the last quarter. Finally, Cullinan Associates Inc. raised its stake in Blackstone by 10.0% in the 1st quarter. Cullinan Associates Inc. now owns 26,442 shares of the asset manager’s stock valued at $3,474,000 after purchasing an additional 2,400 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Price Performance

Blackstone stock opened at $167.50 on Monday. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $175.94. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. The stock has a market cap of $119.70 billion, a P/E ratio of 59.19, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company has a fifty day simple moving average of $150.49 and a 200-day simple moving average of $134.74.

Blackstone Increases Dividend

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

Insider Buying and Selling

In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on 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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, 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 owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The trade was 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.

Analysts Set New Price Targets

A number of brokerages have recently commented on BX. Deutsche Bank Aktiengesellschaft increased their target price on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Citigroup raised their target price on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. TD Cowen increased their price target on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday, October 18th. Bank of America lifted their target price on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Morgan Stanley lifted their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus target price 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.