Koss Olinger Consulting LLC Buys 115 Shares of Blackstone Inc. (NYSE:BX)

Koss Olinger Consulting LLC lifted its position in shares of Blackstone Inc. (NYSE:BX) by 5.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,148 shares of the asset manager’s stock after acquiring an additional 115 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Blackstone were worth $329,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in BX. Chilton Capital Management LLC bought a new stake in shares of Blackstone during the 1st quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Blackstone in the second quarter valued at about $26,000. EdgeRock Capital LLC bought a new position in Blackstone during the second quarter worth about $27,000. West Financial Advisors LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at about $27,000. Finally, Bank & Trust Co bought a new position in Blackstone during the 2nd quarter worth approximately $29,000. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction 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 completion of the sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction dated 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 directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the subject of several research analyst reports. Morgan Stanley boosted their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Citigroup boosted their price objective on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday. Wells Fargo & Company lifted their price target on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research note on Friday. Finally, TD Cowen raised their price objective on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a report on Friday. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Blackstone currently has an average rating of “Hold” and an average price target of $155.38.

Blackstone Trading Down 1.0 %

Shares of NYSE:BX opened at $170.70 on Tuesday. The company has a 50-day simple moving average of $147.84 and a 200 day simple moving average of $133.63. The company has a market capitalization of $121.99 billion, a P/E 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 quick ratio of 0.77 and a current ratio of 0.77. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $175.94.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be issued a dividend of $0.86 per share. The ex-dividend date of this dividend is Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.02%. Blackstone’s payout ratio is presently 121.55%.

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.