Blackstone Inc. (NYSE:BX) Shares Sold by Dudley Capital Management LLC

Dudley Capital Management LLC lessened its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,004 shares of the asset manager’s stock after selling 298 shares during the period. Blackstone accounts for approximately 2.0% of Dudley Capital Management LLC’s holdings, making the stock its 12th biggest position. Dudley Capital Management LLC’s holdings in Blackstone were worth $3,829,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Chilton Capital Management LLC bought a new position in shares of Blackstone in the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone during the 2nd quarter valued at about $26,000. EdgeRock Capital LLC bought a new stake in shares of Blackstone in the 2nd quarter worth approximately $27,000. West Financial Advisors LLC bought a new stake in Blackstone during the third quarter worth approximately $27,000. Finally, Bank & Trust Co acquired a new position in Blackstone in the second quarter worth approximately $29,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BX. Wells Fargo & Company raised their price objective on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Redburn Atlantic assumed coverage on Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target on the stock. Citigroup raised their target price on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Evercore ISI upped their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Barclays lifted their price objective on shares of Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $155.38.

Blackstone Stock Performance

BX opened at $176.30 on Friday. The company has a market cap of $127.29 billion, a PE ratio of 60.58, a price-to-earnings-growth ratio of 1.43 and a beta of 1.49. Blackstone Inc. has a 52-week low of $96.15 and a 52-week high of $178.30. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. The stock has a 50-day moving average of $155.70 and a 200-day moving average of $137.33.

Blackstone Increases Dividend

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

Insider Activity at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the company’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 transaction of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by corporate insiders.

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.