BluePath Capital Management LLC Has $769,000 Stock Holdings in Blackstone Inc. (NYSE:BX)

BluePath Capital Management LLC cut its position in Blackstone Inc. (NYSE:BX) by 14.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,023 shares of the asset manager’s stock after selling 854 shares during the period. BluePath Capital Management LLC’s holdings in Blackstone were worth $769,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BX. Chilton Capital Management LLC acquired a new position in Blackstone during the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Blackstone during the 2nd quarter valued at about $26,000. EdgeRock Capital LLC acquired a new position in Blackstone during the 2nd quarter valued at about $27,000. West Financial Advisors LLC acquired a new position in Blackstone during the 3rd quarter valued at about $27,000. Finally, Bank & Trust Co acquired a new position in Blackstone during the 2nd quarter valued at about $29,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Joseph Baratta sold 116,448 shares of the 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 transaction, the director now directly owns 799,749 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This represents 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 this link. Also, 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 completion of the sale, the director now owns 799,749 shares in the company, valued at approximately $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 insiders.

Blackstone Price Performance

BX stock opened at $168.14 on Friday. Blackstone Inc. has a 1 year low of $96.15 and a 1 year high of $175.94. The company has a market cap of $121.07 billion, a P/E ratio of 57.78, a PEG ratio of 1.47 and a beta of 1.51. The firm has a 50-day moving average of $153.90 and a 200 day moving average of $136.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 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. Investors of record on Monday, October 28th will be paid a $0.86 dividend. This is an increase 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%. The ex-dividend date is Monday, October 28th. Blackstone’s dividend payout ratio is presently 118.21%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BX shares. TD Cowen lifted their target price 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. 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 report on Monday, October 14th. 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. BMO Capital Markets upped their target price on shares of Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Finally, 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 note on Wednesday, October 9th. Thirteen research 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, Blackstone presently 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.