Blackstone Inc. (NYSE:BX) Shares Purchased by Canal Capital Management LLC

Canal Capital Management LLC grew its stake in shares of Blackstone Inc. (NYSE:BX) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,716 shares of the asset manager’s stock after acquiring an additional 1,850 shares during the quarter. Blackstone comprises about 2.6% of Canal Capital Management LLC’s holdings, making the stock its 5th largest position. Canal Capital Management LLC’s holdings in Blackstone were worth $16,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Blackstone Price Performance

BX opened at $170.97 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $149.16 and its 200 day moving average price is $134.15. Blackstone Inc. has a fifty-two week low of $88.59 and a fifty-two week high of $175.94. The firm has a market cap of $122.18 billion, a price-to-earnings ratio of 59.95, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be paid a dividend of $0.86 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Monday, October 28th. Blackstone’s dividend payout ratio is presently 121.55%.

Analysts Set New Price Targets

BX has been the topic of a number of recent research reports. Citigroup boosted their price objective on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Bank of America upped their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a report on Friday, October 18th. UBS Group upped their target price 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. JPMorgan Chase & Co. lifted their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Redburn Atlantic started coverage on Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price for the company. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $155.38.

Insider Buying and Selling at Blackstone

In related 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 sale, the director now directly owns 799,749 shares in the company, valued at $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 available through this hyperlink. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction on 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 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 disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

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.