United Advisor Group LLC Cuts Position in Blackstone Inc. (NYSE:BX)

United Advisor Group LLC lowered its holdings in Blackstone Inc. (NYSE:BX) by 8.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,400 shares of the asset manager’s stock after selling 396 shares during the period. United Advisor Group LLC’s holdings in Blackstone were worth $674,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BX. ASB Consultores LLC increased its holdings in Blackstone by 16.8% during the third quarter. ASB Consultores LLC now owns 2,344 shares of the asset manager’s stock worth $359,000 after buying an additional 338 shares during the last quarter. James J. Burns & Company LLC purchased a new position in Blackstone in the third quarter valued at approximately $367,000. Clarity Capital Partners LLC purchased a new stake in Blackstone in the third quarter worth $243,000. Catalyst Capital Advisors LLC purchased a new position in shares of Blackstone during the 3rd quarter valued at $68,000. Finally, Rational Advisors LLC increased its holdings in Blackstone by 4.8% in the 3rd quarter. Rational Advisors LLC now owns 22,000 shares of the asset manager’s stock worth $3,369,000 after acquiring an additional 1,000 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Price Performance

BX opened at $169.61 on Wednesday. The stock has a 50-day moving average price of $154.97 and a 200-day moving average price of $137.05. The stock has a market capitalization of $122.13 billion, a P/E ratio of 58.29, a PEG ratio of 1.44 and a beta of 1.49. Blackstone Inc. has a 12-month low of $96.15 and a 12-month high of $175.94. The company has a current ratio of 0.71, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.03%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s payout ratio is presently 118.21%.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business’s 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 completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. TD Cowen lifted their price target on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research report on Friday, October 18th. Piper Sandler cut Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a report on Wednesday, October 9th. Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Finally, Barclays raised their price objective on shares of Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Thirteen investment 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, the stock 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.