Blackstone Inc. (NYSE:BX) Stake Reduced by Bay Colony Advisory Group Inc d b a Bay Colony Advisors

Bay Colony Advisory Group Inc d b a Bay Colony Advisors cut its holdings in Blackstone Inc. (NYSE:BX) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,227 shares of the asset manager’s stock after selling 762 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Blackstone were worth $1,413,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Chilton Capital Management LLC acquired a new stake in Blackstone during the 1st quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Blackstone during the 2nd quarter worth about $26,000. EdgeRock Capital LLC acquired a new stake in Blackstone during the 2nd quarter worth about $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 stake in Blackstone during the 2nd quarter worth about $29,000. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BX has been the topic of several research analyst reports. Piper Sandler cut Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research note on Wednesday, October 9th. Morgan Stanley lifted their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. TD Cowen lifted their target price on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research note on Friday, October 18th. Redburn Atlantic assumed coverage on Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. Finally, The Goldman Sachs Group boosted their price target on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $155.38.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction on 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 sale, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, 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 value of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. This trade 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 is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

NYSE:BX traded up $1.30 during trading hours on Monday, reaching $168.80. The company had a trading volume of 209,249 shares, compared to its average volume of 3,430,290. The stock has a 50-day moving average of $150.49 and a two-hundred day moving average of $134.74. Blackstone Inc. has a one year low of $90.43 and a one year high of $175.94. The firm has a market capitalization of $120.63 billion, a PE ratio of 59.19, a PEG ratio of 1.24 and a beta of 1.51. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be given a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.04%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, October 28th. Blackstone’s dividend payout ratio is 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.