Parcion Private Wealth LLC Acquires 9,039 Shares of Blackstone Inc. (NYSE:BX)

Parcion Private Wealth LLC raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 438.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,101 shares of the asset manager’s stock after purchasing an additional 9,039 shares during the quarter. Parcion Private Wealth LLC’s holdings in Blackstone were worth $1,700,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. West Financial Advisors LLC acquired a new stake in Blackstone during the 3rd quarter worth approximately $27,000. Chilton Capital Management LLC acquired a new position in shares of Blackstone in the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Blackstone in the 2nd quarter worth about $26,000. EdgeRock Capital LLC acquired a new position in shares of Blackstone during the 2nd quarter worth approximately $27,000. Finally, Bank & Trust Co bought a new position in shares of Blackstone during the second quarter worth approximately $29,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

BX stock opened at $167.50 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $175.94. The company has a market capitalization of $119.70 billion, a P/E ratio of 59.19, a PEG ratio of 1.24 and a beta of 1.51. The company has a fifty day moving average price of $149.82 and a 200-day moving average price of $134.39.

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 paid a $0.86 dividend. 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 dividend yield of 2.05%. The ex-dividend date is Monday, October 28th. Blackstone’s payout ratio is currently 121.55%.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent research reports. Barclays raised their price objective on Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. The Goldman Sachs Group upped their price objective on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. TD Cowen lifted their price objective on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research note on Friday, October 18th. Finally, UBS Group raised their target price on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $155.38.

Insider Buying and Selling at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the 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 in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated 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 sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 429,386 shares in the company, valued at approximately $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. Insiders own 1.00% of the company’s stock.

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.