Lodestone Wealth Management LLC Decreases Stock Position in Blackstone Inc. (NYSE:BX)

Lodestone Wealth Management LLC reduced its stake in Blackstone Inc. (NYSE:BX) by 5.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,858 shares of the asset manager’s stock after selling 678 shares during the period. Lodestone Wealth Management LLC’s holdings in Blackstone were worth $1,969,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in Blackstone by 1.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after purchasing an additional 7,692 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Blackstone by 936.2% during the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock valued at $783,000 after acquiring an additional 5,383 shares in the last quarter. Asahi Life Asset Management CO. LTD. purchased a new stake in Blackstone in the third quarter worth $557,000. Scientech Research LLC purchased a new position in Blackstone during the 2nd quarter valued at $1,364,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Blackstone by 11.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 54,159 shares of the asset manager’s stock worth $6,705,000 after purchasing an additional 5,479 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through 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 stock was sold at an average price of $131.74, for a total value 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were 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 of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Up 0.2 %

NYSE BX opened at $168.14 on Friday. The stock’s 50-day moving average price is $153.90 and its 200-day moving average price is $136.27. The company has a market capitalization of $121.07 billion, a P/E ratio of 57.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.51. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 52 week low of $96.15 and a 52 week high of $175.94.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be paid a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is presently 118.21%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BX shares. The Goldman Sachs Group raised their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Redburn Atlantic initiated coverage on shares of Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. BMO Capital Markets lifted their price target on shares of Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Cowen restated a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Finally, TD Cowen boosted their price target on Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research report on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Blackstone currently has an average 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.