Capital Advisors Inc. OK Has $34.23 Million Stake in Blackstone Inc. (NYSE:BX)

Capital Advisors Inc. OK decreased its stake in Blackstone Inc. (NYSE:BX - Free Report) by 34.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,521 shares of the asset manager's stock after selling 119,572 shares during the quarter. Capital Advisors Inc. OK's holdings in Blackstone were worth $34,228,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings 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 in the last quarter. Blue Trust Inc. raised its holdings in shares of Blackstone by 936.2% in the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager's stock valued at $783,000 after buying an additional 5,383 shares during the last quarter. Asahi Life Asset Management CO. LTD. bought a new stake in Blackstone during the 3rd quarter worth about $557,000. Scientech Research LLC bought a new position in shares of Blackstone in the second quarter worth about $1,364,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Blackstone by 11.3% during the second quarter. EverSource Wealth Advisors LLC now owns 54,159 shares of the asset manager's stock valued at $6,705,000 after purchasing an additional 5,479 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on BX. Morgan Stanley increased their price objective on Blackstone from $164.00 to $177.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. TD Cowen lifted their price objective on Blackstone from $133.00 to $149.00 and gave the stock a "hold" rating in a research report on Friday, October 18th. Redburn Atlantic began coverage on shares of Blackstone in a research note on Tuesday, August 27th. They issued a "neutral" rating and a $134.00 target price on the stock. Bank of America boosted their price target on shares of Blackstone from $171.00 to $192.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. Finally, BMO Capital Markets lifted their target price on shares of Blackstone from $112.00 to $134.00 and gave the stock a "market perform" rating in a report 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $155.38.

Blackstone Stock Up 0.2 %

BX stock traded up $0.39 during mid-day trading on Friday, hitting $168.14. 3,453,223 shares of the company were exchanged, compared to its average volume of 3,430,058. The firm has a market cap of $121.07 billion, a P/E ratio of 57.78, a P/E/G ratio of 1.47 and a beta of 1.51. Blackstone Inc. has a 1-year low of $96.15 and a 1-year high of $175.94. 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 firm's 50 day simple moving average is $153.90 and its 200 day simple moving average is $136.27.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be paid a $0.86 dividend. The ex-dividend date is 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 yield of 2.05%. Blackstone's dividend payout ratio is presently 118.21%.

Insider Buying and Selling at Blackstone

In other Blackstone 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 owns 799,749 shares of the company's stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business's stock in a transaction dated 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 sale, the director now directly owns 799,749 shares of the company's stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John G. Finley sold 35,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, 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 disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

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.