Blackstone Inc. (NYSE:BX) Stake Lifted by Montecito Bank & Trust

Montecito Bank & Trust boosted its position in Blackstone Inc. (NYSE:BX) by 40.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,774 shares of the asset manager’s stock after purchasing an additional 1,665 shares during the period. Montecito Bank & Trust’s holdings in Blackstone were worth $884,000 as of its most recent SEC filing.

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

Blackstone Trading Down 0.0 %

Shares of BX stock opened at $176.30 on Friday. The business’s 50 day moving average is $155.70 and its two-hundred day moving average is $137.33. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 12 month low of $96.15 and a 12 month high of $178.30. The company has a market cap of $127.29 billion, a PE ratio of 60.58, a price-to-earnings-growth ratio of 1.43 and a beta of 1.49.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 1.95%. This is a boost 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 118.21%.

Analysts Set New Price Targets

A number of research firms recently commented on BX. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Wells Fargo & Company lifted their price target on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Evercore ISI raised their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. TD Cowen increased their price target on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. Finally, Redburn Atlantic assumed coverage on shares of Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price for the company. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Blackstone 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 stock in a transaction that occurred on Tuesday, October 1st. The stock was 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 approximately $120,610,146.69. This represents 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 this hyperlink. 1.00% of the stock is currently 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.