JFS Wealth Advisors LLC Has $820,000 Stock Position in Blackstone Inc. (NYSE:BX)

JFS Wealth Advisors LLC lowered its holdings in Blackstone Inc. (NYSE:BX) by 15.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,357 shares of the asset manager’s stock after selling 996 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Blackstone were worth $820,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BX. Norden Group LLC grew its holdings in shares of Blackstone by 2,072.0% during the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock worth $4,802,000 after purchasing an additional 34,872 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of Blackstone by 32.0% during the 1st quarter. First Trust Direct Indexing L.P. now owns 11,786 shares of the asset manager’s stock worth $1,548,000 after purchasing an additional 2,858 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Blackstone by 72.5% during the 1st quarter. Van ECK Associates Corp now owns 15,597 shares of the asset manager’s stock worth $2,049,000 after purchasing an additional 6,553 shares in the last quarter. StoneX Group Inc. boosted its stake in Blackstone by 5.0% in the 1st quarter. StoneX Group Inc. now owns 29,458 shares of the asset manager’s stock valued at $3,870,000 after buying an additional 1,397 shares in the last quarter. Finally, Fortem Financial Group LLC boosted its stake in Blackstone by 19.0% in the 1st quarter. Fortem Financial Group LLC now owns 10,102 shares of the asset manager’s stock valued at $1,327,000 after buying an additional 1,613 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Down 2.2 %

NYSE BX opened at $167.75 on Friday. The stock has a 50-day simple moving average of $153.32 and a 200 day simple moving average of $135.84. The company has a market capitalization of $119.88 billion, a PE ratio of 59.28, a P/E/G ratio of 1.24 and a beta of 1.51. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12 month low of $91.14 and a 12 month high of $175.94.

Blackstone Increases Dividend

The business 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 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 an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 121.55%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BX. Morgan Stanley boosted their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Wells Fargo & Company boosted 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. Redburn Atlantic initiated coverage on Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target on the stock. Citigroup lifted their price objective on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and an average price target of $155.38.

Insider Activity at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the company’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 completion of the sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate 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.