Forte Capital LLC ADV Sells 597 Shares of Blackstone Inc. (NYSE:BX)

Forte Capital LLC ADV cut its stake in shares of Blackstone Inc. (NYSE:BX) by 8.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,074 shares of the asset manager’s stock after selling 597 shares during the quarter. Forte Capital LLC ADV’s holdings in Blackstone were worth $930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Raleigh Capital Management Inc. lifted its position in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of Blackstone by 2.3% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after acquiring an additional 62 shares during the period. Fidelis Capital Partners LLC raised its stake in Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after acquiring an additional 62 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Blackstone by 0.5% in the third quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock worth $2,132,000 after purchasing an additional 64 shares in the last quarter. Finally, Trust Co. of Vermont lifted its stake in shares of Blackstone by 3.1% during the 3rd quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock valued at $343,000 after buying an additional 67 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. UBS Group lifted their price objective on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a research note on Wednesday, October 9th. Finally, Bank of America raised their price objective on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Blackstone has a consensus rating of “Hold” and an average price target of $155.38.

Insider Activity at Blackstone

In other 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 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 approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by company insiders.

Blackstone Trading Up 4.0 %

Shares of BX opened at $176.38 on Thursday. The company has a market cap of $127.01 billion, a P/E ratio of 60.61, a P/E/G ratio of 1.44 and a beta of 1.49. Blackstone Inc. has a twelve month low of $96.15 and a twelve month high of $178.30. The company’s fifty day simple moving average is $155.70 and its 200-day simple moving average is $137.33. 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 declared 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 annualized dividend and a dividend yield of 1.95%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s dividend payout ratio is presently 118.21%.

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.