Amalgamated Bank Reduces Position in Blackstone Inc. (NYSE:BX)

Amalgamated Bank decreased its position in Blackstone Inc. (NYSE:BX) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,753 shares of the asset manager’s stock after selling 1,902 shares during the quarter. Amalgamated Bank’s holdings in Blackstone were worth $23,238,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Raleigh Capital Management Inc. boosted its position in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the period. Capital Advisors Ltd. LLC boosted its position in Blackstone by 2.3% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after buying an additional 62 shares during the last quarter. Fidelis Capital Partners LLC boosted its position in Blackstone by 2.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after buying an additional 62 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Blackstone by 0.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock valued at $2,132,000 after buying an additional 64 shares during the last quarter. Finally, Trust Co. of Vermont grew its stake in Blackstone by 3.1% in the third quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock worth $343,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling

In related news, 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 sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Blackstone news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred 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 owns 429,386 shares in the company, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of Blackstone 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 transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. 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 corporate insiders.

Blackstone Price Performance

Shares of NYSE:BX opened at $167.04 on Tuesday. Blackstone Inc. has a 12 month low of $96.15 and a 12 month high of $175.94. The stock has a market cap of $120.28 billion, a price-to-earnings ratio of 57.40, a PEG ratio of 1.44 and a beta of 1.49. The stock’s 50 day moving average price is $154.40 and its 200 day moving average price is $136.69. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.77.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were issued a dividend of $0.86 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 2.06%. Blackstone’s payout ratio is presently 118.21%.

Analysts Set New Price Targets

BX has been the subject of a number of research reports. Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target for the company. in a research note on Wednesday, October 9th. Wells Fargo & Company lifted their price target on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. The Goldman Sachs Group lifted their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Cowen reissued a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Finally, Morgan Stanley raised their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Thirteen 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, the company presently has a consensus rating of “Hold” and a consensus price target 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.