Blackstone Inc. (NYSE:BX) Shares Sold by Investors Asset Management of Georgia Inc. GA ADV

Investors Asset Management of Georgia Inc. GA ADV cut its holdings in Blackstone Inc. (NYSE:BX) by 8.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,370 shares of the asset manager’s stock after selling 1,045 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Blackstone were worth $1,741,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of BX. Van ECK Associates Corp increased its stake in shares of Blackstone by 72.5% during the first quarter. Van ECK Associates Corp now owns 15,597 shares of the asset manager’s stock worth $2,049,000 after acquiring an additional 6,553 shares during the period. Norden Group LLC increased its stake in shares of Blackstone by 44.2% during the first quarter. Norden Group LLC now owns 2,427 shares of the asset manager’s stock worth $319,000 after acquiring an additional 744 shares during the period. PDS Planning Inc increased its stake in shares of Blackstone by 15.7% during the first quarter. PDS Planning Inc now owns 1,966 shares of the asset manager’s stock worth $258,000 after acquiring an additional 267 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its position in Blackstone by 9.5% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 18,865 shares of the asset manager’s stock worth $2,478,000 after buying an additional 1,637 shares during the period. Finally, Choreo LLC grew its position in Blackstone by 2.7% during the first quarter. Choreo LLC now owns 10,728 shares of the asset manager’s stock worth $1,409,000 after buying an additional 286 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the firm’s 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 sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Joseph Baratta sold 116,448 shares of the firm’s 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 sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.2 %

Shares of Blackstone stock traded up $0.39 during trading hours on Friday, hitting $168.14. The company’s stock had a trading volume of 3,453,223 shares, compared to its average volume of 3,430,058. Blackstone Inc. has a 1-year low of $96.15 and a 1-year high of $175.94. The business has a fifty day moving average of $153.90 and a 200 day moving average of $136.17. The company has a market capitalization of $121.07 billion, a PE ratio of 57.78, a P/E/G ratio of 1.47 and a beta of 1.51. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be issued a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a yield of 2.05%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

Analysts Set New Price Targets

BX has been the topic of several recent analyst reports. UBS Group upped their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their target price on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Bank of America upped their price target on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Morgan Stanley upped their price target on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus target price 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.