Blackstone Inc. (NYSE:BX) Shares Acquired by MCF Advisors LLC

MCF Advisors LLC grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 10.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,203 shares of the asset manager’s stock after acquiring an additional 116 shares during the period. MCF Advisors LLC’s holdings in Blackstone were worth $184,000 as of its most recent SEC filing.

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

Blackstone Trading Down 1.3 %

Shares of Blackstone stock traded down $2.16 on Friday, reaching $167.50. 2,831,110 shares of the company were exchanged, compared to its average volume of 3,445,846. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $175.94. The firm has a market capitalization of $119.70 billion, a price-to-earnings ratio of 59.19, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The stock has a fifty day moving average price of $150.49 and a 200-day moving average price of $134.66.

Blackstone Increases Dividend

The firm 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. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.05%. Blackstone’s payout ratio is currently 121.55%.

Analysts Set New Price Targets

A number of brokerages have commented on BX. Cowen restated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. UBS Group upped their price objective on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. BMO Capital Markets raised their target price on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Evercore ISI increased their price objective on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Citigroup upped their target price on shares of Blackstone from $157.00 to $170.00 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 given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $155.38.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’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 value of $4,610,900.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’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 directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 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 position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

About Blackstone

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.