Schmidt P J Investment Management Inc. Decreases Position in Blackstone Inc. (NYSE:BX)

Schmidt P J Investment Management Inc. lowered its stake in Blackstone Inc. (NYSE:BX) by 1.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,752 shares of the asset manager’s stock after selling 70 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Blackstone were worth $1,034,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Blackstone by 2.0% during the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after purchasing an additional 1,290,324 shares during the period. Capital World Investors increased its position in shares of 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 acquiring an additional 2,546,886 shares during the period. Wulff Hansen & CO. boosted its holdings in shares of Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after purchasing an additional 7,281,128 shares during the period. Legal & General Group Plc grew its stake in shares of Blackstone by 2.3% in the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock worth $775,758,000 after purchasing an additional 141,616 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Blackstone by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock worth $613,581,000 after buying an additional 21,450 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred on 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on 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 completion of the sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Blackstone Price Performance

BX stock opened at $169.66 on Friday. Blackstone Inc. has a 52-week low of $88.59 and a 52-week high of $175.94. The firm has a market capitalization of $121.25 billion, a price-to-earnings ratio of 59.95, a PEG ratio of 1.24 and a beta of 1.51. The firm has a 50 day moving average price of $149.16 and a 200-day moving average price of $134.15. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be issued a $0.86 dividend. 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 yield of 2.03%. The ex-dividend date of this dividend is Monday, October 28th. Blackstone’s payout ratio is presently 121.55%.

Analyst Upgrades and Downgrades

BX has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their target price on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Cowen reaffirmed a “hold” rating on shares of Blackstone in a research report on Friday, October 18th. Redburn Atlantic started coverage on shares of Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target for the company. BMO Capital Markets upped their target price on Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, Bank of America raised their target price on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.