Sippican Capital Advisors Has $1.12 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Sippican Capital Advisors cut its stake in shares of Blackstone Inc. (NYSE:BX) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,299 shares of the asset manager’s stock after selling 115 shares during the quarter. Sippican Capital Advisors’ holdings in Blackstone were worth $1,118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Meitav Investment House Ltd. raised its position in shares of Blackstone by 7.8% in the 3rd quarter. Meitav Investment House Ltd. now owns 10,030 shares of the asset manager’s stock worth $1,524,000 after acquiring an additional 728 shares in the last quarter. Catalyst Financial Partners LLC bought a new position in shares of Blackstone in the 3rd quarter worth about $253,000. Financial Advocates Investment Management increased its position in Blackstone by 5.9% in the 3rd quarter. Financial Advocates Investment Management now owns 6,681 shares of the asset manager’s stock valued at $1,023,000 after buying an additional 372 shares in the last quarter. 1620 Investment Advisors Inc. increased its position in Blackstone by 2.6% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 4,984 shares of the asset manager’s stock valued at $763,000 after buying an additional 124 shares in the last quarter. Finally, SteelPeak Wealth LLC boosted its stake in Blackstone by 0.8% during the 3rd quarter. SteelPeak Wealth LLC now owns 34,247 shares of the asset manager’s stock valued at $5,244,000 after purchasing an additional 288 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Price Performance

BX traded down $0.89 during trading on Thursday, reaching $170.65. The stock had a trading volume of 99,729 shares, compared to its average volume of 3,413,967. The business has a 50-day moving average of $152.67 and a 200-day moving average of $135.62. 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 Inc. has a one year low of $91.14 and a one year high of $175.94. The stock has a market cap of $121.95 billion, a PE ratio of 60.62, a PEG ratio of 1.24 and a beta of 1.51.

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 given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a yield of 2.02%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, October 28th. Blackstone’s dividend payout ratio is presently 121.55%.

Insider Buying and Selling at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other 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 transaction of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $4,610,900.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price target on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. TD Cowen boosted their target price on Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. Morgan Stanley boosted their target price on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Piper Sandler downgraded Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research note on Wednesday, October 9th. Finally, Redburn Atlantic started coverage on Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective on the stock. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $155.38.

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.