Blackstone Inc. (NYSE:BX) Position Reduced by Cross Staff Investments Inc

Cross Staff Investments Inc decreased its holdings in Blackstone Inc. (NYSE:BX) by 11.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 37,607 shares of the asset manager’s stock after selling 4,790 shares during the period. Blackstone makes up about 4.4% of Cross Staff Investments Inc’s investment portfolio, making the stock its 3rd largest position. Cross Staff Investments Inc’s holdings in Blackstone were worth $5,759,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BX. Chilton Capital Management LLC acquired a new stake in Blackstone in the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Blackstone during the second quarter worth approximately $26,000. EdgeRock Capital LLC acquired a new stake in shares of Blackstone during the second quarter worth approximately $27,000. West Financial Advisors LLC acquired a new stake in shares of Blackstone during the third quarter worth approximately $27,000. Finally, Bank & Trust Co acquired a new stake in shares of Blackstone during the second quarter worth approximately $29,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Performance

BX stock opened at $169.66 on Friday. The company has a market capitalization of $121.25 billion, a P/E ratio of 59.95, a PEG ratio of 1.24 and a beta of 1.51. The company has a 50-day simple moving average of $149.16 and a 200 day simple moving average of $134.15. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $175.94. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BX. TD Cowen raised their price target on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target for the company. in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price objective on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Evercore ISI boosted their target price 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. Finally, Barclays boosted their target price on shares of Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $155.38.

Insider Buying and Selling

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated 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 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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Blackstone 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 sale, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated 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 sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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.