Sippican Capital Advisors Sells 115 Shares of Blackstone Inc. (NYSE:BX)

Sippican Capital Advisors cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.6% during the third quarter, Holdings Channel.com reports. The firm owned 7,299 shares of the asset manager’s stock after selling 115 shares during the period. Sippican Capital Advisors’ holdings in Blackstone were worth $1,118,000 as of its most recent SEC filing.

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

Insider Activity

In related news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction on 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 sale, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the 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 completion of the sale, the director now directly owns 799,749 shares in the company, 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. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Down 0.5 %

Shares of BX stock traded down $0.89 during trading on Thursday, reaching $170.65. The company’s stock had a trading volume of 99,729 shares, compared to its average volume of 3,413,967. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. Blackstone Inc. has a 1-year low of $91.14 and a 1-year high of $175.94. The company has a market capitalization of $121.95 billion, a price-to-earnings ratio of 60.62, a P/E/G ratio of 1.24 and a beta of 1.51. The stock’s 50-day moving average price is $152.67 and its 200 day moving average price is $135.62.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be issued a $0.86 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 2.02%. Blackstone’s dividend payout ratio is presently 121.55%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Redburn Atlantic assumed coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Wells Fargo & Company raised their price target on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. The Goldman Sachs Group raised their price target on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, BMO Capital Markets raised 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 given a buy rating to the stock. According to data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus price target 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.