D.A. Davidson & CO. Has $26.32 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

D.A. Davidson & CO. lessened its stake in shares of Blackstone Inc. (NYSE:BX - Free Report) by 7.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,855 shares of the asset manager's stock after selling 13,957 shares during the quarter. D.A. Davidson & CO.'s holdings in Blackstone were worth $26,316,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sather Financial Group Inc increased its holdings in shares of Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager's stock valued at $926,000 after acquiring an additional 4,050 shares during the period. Portside Wealth Group LLC acquired a new position in shares of Blackstone in the 3rd quarter valued at $201,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Blackstone by 1.8% in 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 acquiring an additional 7,692 shares during the period. Aljian Capital Management LLC acquired a new position in Blackstone in the 3rd quarter valued at $1,951,000. Finally, Icon Wealth Advisors LLC increased its stake in Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager's stock valued at $2,901,000 after buying an additional 18,117 shares during the period. Hedge funds and other institutional investors own 70.00% of the company's stock.

Analysts Set New Price Targets

BX has been the topic of several recent research reports. The Goldman Sachs Group boosted their price objective on shares of Blackstone from $135.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Cowen reiterated a "hold" rating on shares of Blackstone in a research report on Friday, October 18th. Redburn Atlantic initiated coverage on shares of Blackstone in a research report on Tuesday, August 27th. They issued a "neutral" rating and a $134.00 price objective on the stock. UBS Group boosted their price objective on shares of Blackstone from $140.00 to $160.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 16th. Finally, Piper Sandler downgraded shares of Blackstone from an "overweight" rating to a "neutral" rating and set a $149.00 price objective for the company. in a research note on Wednesday, October 9th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $157.63.

Blackstone Stock Down 0.8 %

NYSE BX traded down $1.46 on Tuesday, hitting $191.66. 3,179,721 shares of the stock traded hands, compared to its average volume of 3,422,328. The company has a market capitalization of $138.38 billion, a P/E ratio of 66.36, a price-to-earnings-growth ratio of 1.69 and a beta of 1.49. The stock has a 50-day moving average of $166.63 and a 200 day moving average of $143.28. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a twelve month low of $105.51 and a twelve month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. The company had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. As a group, analysts expect that Blackstone Inc. will post 4.4 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were given a dividend of $0.86 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 1.79%. This is a positive change from Blackstone's previous quarterly dividend of $0.82. Blackstone's payout ratio is currently 118.21%.

Insiders Place Their Bets

In other news, insider John G. Finley sold 42,249 shares of the business's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company's stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Baratta sold 116,448 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was 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 directly owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by 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.