IVC Wealth Advisors LLC Decreases Stock Position in Blackstone Inc. (NYSE:BX)

IVC Wealth Advisors LLC cut its position in shares of Blackstone Inc. (NYSE:BX) by 2.9% in the third quarter, Holdings Channel.com reports. The firm owned 3,447 shares of the asset manager’s stock after selling 103 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Blackstone were worth $528,000 at the end of the most recent quarter.

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

Blackstone Price Performance

Shares of NYSE BX opened at $167.50 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market cap of $119.70 billion, a PE ratio of 59.19, a PEG ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a one year low of $88.59 and a one year high of $175.94. The firm has a fifty day moving average of $150.49 and a 200 day moving average of $134.74.

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 paid a $0.86 dividend. The ex-dividend date of this dividend is Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 2.05%. Blackstone’s dividend payout ratio (DPR) is currently 121.55%.

Insiders Place Their Bets

In related news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Baratta sold 116,448 shares of the business’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 directly owns 799,749 shares in the company, 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. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of analyst reports. Citigroup upped their target price on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Cowen reiterated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target on the stock. in a report on Wednesday, October 9th. TD Cowen increased their price target on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research note on Friday, October 18th. Finally, Redburn Atlantic started coverage on shares of Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price for the company. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.