Silicon Valley Capital Partners Reduces Stock Holdings in Blackstone Inc. (NYSE:BX)

Silicon Valley Capital Partners cut its holdings in Blackstone Inc. (NYSE:BX) by 3.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,554 shares of the asset manager’s stock after selling 2,286 shares during the quarter. Blackstone makes up about 1.1% of Silicon Valley Capital Partners’ holdings, making the stock its 27th biggest holding. Silicon Valley Capital Partners’ holdings in Blackstone were worth $8,813,000 at the end of the most recent quarter.

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

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the business’s 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 transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider John G. Finley sold 35,000 shares of the stock in a transaction 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 completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated 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 directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Trading Down 0.9 %

Blackstone stock opened at $166.60 on Monday. The business’s 50-day simple moving average is $153.90 and its 200-day simple moving average is $136.36. Blackstone Inc. has a 52 week low of $96.15 and a 52 week high of $175.94. The firm has a market capitalization of $119.97 billion, a PE ratio of 57.78, a PEG ratio of 1.44 and a beta of 1.49. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be given a dividend of $0.86 per share. The ex-dividend date is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 2.06%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s payout ratio is 118.21%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Evercore ISI increased their target price on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. TD Cowen boosted their target price on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday, October 18th. The Goldman Sachs Group raised their price objective on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a research note on Wednesday, October 9th. 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, the company presently has an average rating of “Hold” and a consensus price target of $155.38.

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.