Waldron Private Wealth LLC Sells 246 Shares of Blackstone Inc. (NYSE:BX)

Waldron Private Wealth LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 0.5% during the third quarter, HoldingsChannel.com reports. The firm owned 51,026 shares of the asset manager’s stock after selling 246 shares during the period. Waldron Private Wealth LLC’s holdings in Blackstone were worth $7,814,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Raleigh Capital Management Inc. raised its position in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of Blackstone by 3.1% in the 3rd quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock valued at $343,000 after purchasing an additional 67 shares during the last quarter. CVA Family Office LLC lifted its holdings 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 buying an additional 73 shares during the period. Moseley Investment Management Inc. raised its position in shares of Blackstone by 0.7% in the 2nd quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock worth $1,391,000 after acquiring an additional 74 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its position in shares of Blackstone by 0.6% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after purchasing an additional 80 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other Blackstone 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 value of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider John G. Finley sold 35,000 shares of the 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 completion of the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 completion of the transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Citigroup raised their price objective on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays boosted their price objective on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday. Bank of America boosted their price target on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company lifted their price objective on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a report on Friday. Finally, BMO Capital Markets raised their price target on shares of Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Blackstone has a consensus rating of “Hold” and a consensus target price of $155.38.

Blackstone Price Performance

NYSE BX traded down $2.81 during trading hours on Tuesday, hitting $167.96. The company had a trading volume of 1,969,446 shares, compared to its average volume of 3,444,809. The firm has a 50 day simple moving average of $147.84 and a 200 day simple moving average of $133.63. The firm has a market capitalization of $120.03 billion, a price-to-earnings ratio of 59.35, a PEG 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 declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a $0.86 dividend. The ex-dividend date is Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 2.05%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is presently 121.55%.

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.