Blackstone Inc. (NYSE:BX) Shares Sold by Vanguard Capital Wealth Advisors

Vanguard Capital Wealth Advisors lowered its position in Blackstone Inc. (NYSE:BX) by 10.1% in the third quarter, HoldingsChannel reports. The fund owned 3,580 shares of the asset manager’s stock after selling 400 shares during the quarter. Vanguard Capital Wealth Advisors’ holdings in Blackstone were worth $548,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Raleigh Capital Management Inc. increased its stake in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after purchasing an additional 62 shares in the last quarter. Fidelis Capital Partners LLC grew its stake in Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after acquiring an additional 62 shares in the last quarter. Trust Co. of Vermont grew its stake in Blackstone by 3.1% during the 3rd quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock valued at $343,000 after acquiring an additional 67 shares in the last quarter. Finally, CVA Family Office LLC grew its stake in Blackstone by 6.4% during the 3rd quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock valued at $187,000 after acquiring an additional 73 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

Blackstone stock opened at $169.81 on Wednesday. The stock has a market cap of $121.35 billion, a P/E ratio of 60.00, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The company has a fifty day simple moving average of $151.93 and a 200-day simple moving average of $135.37. Blackstone Inc. has a 12-month low of $90.43 and a 12-month high of $175.94. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be given a $0.86 dividend. The ex-dividend date of this dividend is Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 2.03%. Blackstone’s payout ratio is 121.55%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BX. Citigroup upped their price objective on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Evercore ISI upped their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Redburn Atlantic assumed coverage on shares of Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target for the company. UBS Group increased their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Finally, Bank of America increased their price target on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus price target of $155.38.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the business’s 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 sale, the insider now directly owns 429,386 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. In related news, insider John G. Finley sold 35,000 shares of the business’s 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 sale, the insider now directly owns 429,386 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on Tuesday, October 1st. The shares were 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 owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

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.