Blackstone Inc. (NYSE:BX) Holdings Trimmed by Arlington Trust Co LLC

Arlington Trust Co LLC lowered its stake in Blackstone Inc. (NYSE:BX) by 7.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,201 shares of the asset manager’s stock after selling 100 shares during the quarter. Arlington Trust Co LLC’s holdings in Blackstone were worth $184,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Blackstone by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after acquiring an additional 1,290,324 shares in the last quarter. Capital World Investors lifted its holdings in Blackstone by 7.5% during the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after acquiring an additional 2,546,886 shares in the last quarter. Wulff Hansen & CO. lifted its position in Blackstone by 12,192.7% in the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after acquiring an additional 7,281,128 shares in the last quarter. Legal & General Group Plc increased its stake in Blackstone by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after buying an additional 141,616 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in Blackstone by 0.5% during the first quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock worth $613,581,000 after acquiring an additional 21,450 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Performance

Shares of NYSE BX traded up $0.39 during mid-day trading on Friday, reaching $168.14. 3,453,223 shares of the company’s stock were exchanged, compared to its average volume of 3,430,058. Blackstone Inc. has a 52 week low of $96.15 and a 52 week high of $175.94. The firm has a 50-day moving average price of $153.90 and a two-hundred day moving average price 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. The firm has a market capitalization of $121.07 billion, a price-to-earnings ratio of 57.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.51.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a dividend of $0.86 per share. The ex-dividend date of this dividend is Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 2.05%. Blackstone’s dividend payout ratio is 118.21%.

Insider Activity at Blackstone

In other news, insider John G. Finley sold 35,000 shares of the 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 directly owns 429,386 shares of the company’s stock, 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 filing with the SEC, which can be accessed through the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now 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 legal filing with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The trade was 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 company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Evercore ISI increased their price target on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. upped their price objective on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Bank of America upped their price target on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Cowen reiterated a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Blackstone has a consensus rating of “Hold” and a consensus target price 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.