Waldron Private Wealth LLC Has $7.81 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Waldron Private Wealth LLC cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,026 shares of the asset manager’s stock after selling 246 shares during the quarter. Waldron Private Wealth LLC’s holdings in Blackstone were worth $7,814,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raleigh Capital Management Inc. increased its stake in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 62 shares during the period. Trust Co. of Vermont raised its stake in Blackstone by 3.1% during the third quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock worth $343,000 after acquiring an additional 67 shares in the last quarter. CVA Family Office LLC grew its holdings in shares of Blackstone by 6.4% in the 3rd quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock worth $187,000 after purchasing an additional 73 shares during the last quarter. Moseley Investment Management Inc. lifted its holdings in Blackstone by 0.7% during the 2nd quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock valued at $1,391,000 after purchasing an additional 74 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew its stake in Blackstone by 0.6% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock worth $1,713,000 after buying an additional 80 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Activity

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 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 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone 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 owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Down 1.6 %

NYSE BX traded down $2.81 during trading on Tuesday, hitting $167.96. The stock had a trading volume of 1,969,446 shares, compared to its average volume of 3,444,809. 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 12 month low of $88.59 and a 12 month high of $175.94. The company has a market capitalization of $120.03 billion, a PE ratio of 59.35, a P/E/G ratio of 1.24 and a beta of 1.51. The company’s 50-day moving average price is $147.84 and its two-hundred day moving average price is $133.63.

Blackstone Increases Dividend

The firm 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. The ex-dividend date of this dividend is Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 2.05%. Blackstone’s payout ratio is 121.55%.

Analyst Upgrades and Downgrades

BX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays boosted their target price on shares of Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday. Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday. Piper Sandler cut Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a research note on Wednesday, October 9th. Finally, Bank of America lifted their price objective on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $155.38.

About Blackstone

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.