Moloney Securities Asset Management LLC Sells 304 Shares of Blackstone Inc. (NYSE:BX)

Moloney Securities Asset Management LLC trimmed its position in shares of Blackstone Inc. (NYSE:BX) by 7.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,778 shares of the asset manager’s stock after selling 304 shares during the period. Moloney Securities Asset Management LLC’s holdings in Blackstone were worth $579,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. West Financial Advisors LLC purchased a new stake in shares of Blackstone during the third quarter valued at about $27,000. Chilton Capital Management LLC purchased a new position in shares of Blackstone in the 1st quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Blackstone in the 2nd quarter valued at approximately $26,000. EdgeRock Capital LLC purchased a new position in shares of Blackstone in the 2nd quarter valued at approximately $27,000. Finally, Bank & Trust Co purchased a new position in shares of Blackstone in the 2nd quarter valued at approximately $29,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s 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 in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

Blackstone Price Performance

Blackstone stock opened at $176.38 on Thursday. The company’s fifty day moving average price is $155.70 and its 200 day moving average price is $137.33. Blackstone Inc. has a 1 year low of $96.15 and a 1 year high of $178.30. The stock has a market capitalization of $127.01 billion, a P/E ratio of 60.61, a P/E/G ratio of 1.44 and a beta of 1.49. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a $0.86 dividend. The ex-dividend date was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 1.95%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective for the company. in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Wells Fargo & Company increased their price target on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Redburn Atlantic started coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Blackstone presently has a consensus 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.