Arthur M. Cohen & Associates LLC Buys 675 Shares of Blackstone Inc. (NYSE:BX)

Arthur M. Cohen & Associates LLC boosted its position in Blackstone Inc. (NYSE:BX) by 22.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,645 shares of the asset manager’s stock after purchasing an additional 675 shares during the quarter. Arthur M. Cohen & Associates LLC’s holdings in Blackstone were worth $553,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BX. Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Citigroup boosted their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Cowen reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $155.38.

Insider Buying and Selling

In other news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction 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 transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. 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. In other news, Director Joseph Baratta sold 116,448 shares of the company’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 transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Blackstone Stock Performance

NYSE:BX opened at $167.04 on Tuesday. 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 Inc. has a twelve month low of $96.15 and a twelve month high of $175.94. The company’s 50-day moving average price is $154.40 and its 200-day moving average price is $136.69. The company has a market cap of $120.28 billion, a P/E ratio of 57.40, a P/E/G ratio of 1.44 and a beta of 1.49.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were paid a $0.86 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 2.06%. Blackstone’s dividend payout ratio is 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.