Hofer & Associates. Inc Sells 71 Shares of Blackstone Inc. (NYSE:BX)

Hofer & Associates. Inc trimmed its position in Blackstone Inc. (NYSE:BX) by 2.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,040 shares of the asset manager’s stock after selling 71 shares during the period. Hofer & Associates. Inc’s holdings in Blackstone were worth $466,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in Blackstone by 1.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after acquiring an additional 7,692 shares in the last quarter. Norden Group LLC raised its position in Blackstone by 2,072.0% during the first quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock worth $4,802,000 after acquiring an additional 34,872 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Blackstone by 10.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock valued at $614,000 after purchasing an additional 459 shares during the period. Blue Trust Inc. grew its holdings in Blackstone by 936.2% during the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock worth $783,000 after purchasing an additional 5,383 shares during the period. Finally, Chesley Taft & Associates LLC raised its stake in Blackstone by 17.6% in the first quarter. Chesley Taft & Associates LLC now owns 89,072 shares of the asset manager’s stock valued at $11,701,000 after buying an additional 13,360 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insiders Place Their Bets

In other Blackstone 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 transaction of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This trade 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 is available through this link. In other Blackstone news, insider John G. Finley sold 35,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

BX has been the topic of several research analyst reports. Morgan Stanley increased their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Wells Fargo & Company upped their target price on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday. The Goldman Sachs Group increased their price objective on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research report on Wednesday, October 9th. Finally, UBS Group raised their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $155.38.

Blackstone Stock Down 1.7 %

Shares of NYSE:BX traded down $2.82 during trading on Tuesday, reaching $167.95. 1,698,858 shares of the stock were exchanged, compared to its average volume of 3,443,790. The firm has a market cap of $120.02 billion, a price-to-earnings ratio of 60.32, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The stock has a fifty day moving average of $147.84 and a two-hundred day moving average of $133.63. Blackstone Inc. has a 1-year low of $88.59 and a 1-year high of $175.94. 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 announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.05%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. Blackstone’s payout ratio is presently 121.55%.

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.