Blackstone Inc. (NYSE:BX) Shares Sold by Hofer & Associates. Inc

Hofer & Associates. Inc reduced its position in Blackstone Inc. (NYSE:BX) by 2.3% in the 3rd quarter, according to its most recent 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wulff Hansen & CO. increased its stake 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 buying an additional 7,281,128 shares during the period. Capital World Investors lifted its position in Blackstone by 7.5% in the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after purchasing an additional 2,546,886 shares during the period. Lazard Asset Management LLC increased its position in Blackstone by 19,048.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock worth $247,423,000 after purchasing an additional 1,873,573 shares during the period. Vanguard Group Inc. lifted 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 valued at $8,442,227,000 after buying an additional 1,290,324 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Blackstone by 213.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock worth $170,345,000 after purchasing an additional 937,084 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX traded down $2.82 during mid-day trading on Tuesday, reaching $167.95. 1,698,858 shares of the company’s stock traded hands, compared to its average volume of 3,443,790. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $175.94. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $120.02 billion, a P/E ratio of 60.32, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The business’s 50-day moving average price is $147.84 and its 200-day moving average price is $133.63.

Blackstone Increases Dividend

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

Insider Activity at Blackstone

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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. 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 Analysts Forecast Growth

Several research firms have weighed in on BX. UBS Group raised their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Redburn Atlantic began 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. Barclays lifted their price objective on Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday. JPMorgan Chase & Co. raised their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Piper Sandler lowered 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. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus target price of $155.38.

Blackstone 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.