Blackstone Inc. (NYSE:BX) Shares Sold by Brighton Jones LLC

Brighton Jones LLC cut its holdings in Blackstone Inc. (NYSE:BX) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,882 shares of the asset manager’s stock after selling 197 shares during the period. Brighton Jones LLC’s holdings in Blackstone were worth $901,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Chilton Capital Management LLC acquired a new position in shares of Blackstone in the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Blackstone in the 2nd quarter valued at about $26,000. EdgeRock Capital LLC acquired a new position in shares of Blackstone in the 2nd quarter valued at about $27,000. West Financial Advisors LLC acquired a new position in shares of Blackstone in the 3rd quarter valued at about $27,000. Finally, Bank & Trust Co acquired a new position in Blackstone during the 2nd quarter valued at about $29,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Stock Up 1.6 %

NYSE BX opened at $169.66 on Friday. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $175.94. The company’s 50 day simple moving average is $149.16 and its 200 day simple moving average is $134.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $121.25 billion, a P/E ratio of 59.95, a PEG ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Stockholders 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 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. Blackstone’s payout ratio is currently 121.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Bank of America boosted their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Redburn Atlantic assumed coverage on shares of Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley boosted their price target on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted their price target 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. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $155.38.

Insider Activity

In other 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 sale, the director now owns 799,749 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John G. Finley sold 35,000 shares of the business’s 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 transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. 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. Also, Director Joseph Baratta sold 116,448 shares of the business’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 completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents 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.

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.