Courier Capital LLC Increases Holdings in Blackstone Inc. (NYSE:BX)

Courier Capital LLC grew its holdings in shares of Blackstone Inc. (NYSE:BX) by 31.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,125 shares of the asset manager’s stock after buying an additional 975 shares during the period. Courier Capital LLC’s holdings in Blackstone were worth $632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. West Financial Advisors LLC acquired a new stake in shares of Blackstone in the 3rd quarter valued at about $27,000. Chilton Capital Management LLC acquired a new stake in shares of Blackstone in the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Blackstone in the 2nd quarter valued at about $26,000. EdgeRock Capital LLC acquired a new stake in shares of Blackstone in the 2nd quarter valued at about $27,000. Finally, Bank & Trust Co acquired a new stake in shares of Blackstone in the 2nd quarter valued at about $29,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction 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 transaction, the director now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction 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 transaction, the director now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction 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 sale, 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 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 $166.92 on Thursday. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $175.94. The company has a market capitalization of $119.29 billion, a P/E ratio of 58.98, a PEG ratio of 1.24 and a beta of 1.51. The business has a 50 day moving average price of $149.16 and a 200 day moving average price of $134.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be given a dividend of $0.86 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 2.06%. Blackstone’s dividend payout ratio (DPR) is presently 121.55%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays upped their target price on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Wells Fargo & Company increased their price objective on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. UBS Group increased their price objective on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, Morgan Stanley increased their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $155.38.

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.