Schmidt P J Investment Management Inc. Sells 70 Shares of Blackstone Inc. (NYSE:BX)

Schmidt P J Investment Management Inc. reduced its holdings in Blackstone Inc. (NYSE:BX) by 1.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,752 shares of the asset manager’s stock after selling 70 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Blackstone were worth $1,034,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BX. West Financial Advisors LLC acquired a new stake in Blackstone in the third quarter valued at approximately $27,000. Chilton Capital Management LLC acquired a new stake in Blackstone in the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Blackstone in the second quarter valued at approximately $26,000. EdgeRock Capital LLC acquired a new stake in Blackstone in the second quarter valued at approximately $27,000. Finally, Bank & Trust Co purchased a new position in shares of Blackstone during the second quarter valued at approximately $29,000. 70.00% of the stock is currently owned by institutional investors.

Insider Activity at Blackstone

In other Blackstone 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 owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Blackstone news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $17,561,522.88. Following the transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This trade represents 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.

Blackstone Stock Performance

NYSE:BX opened at $169.66 on Friday. 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 52-week low of $88.59 and a 52-week high of $175.94. The firm has a market cap of $121.25 billion, a price-to-earnings ratio of 59.95, a PEG ratio of 1.24 and a beta of 1.51. The business’s fifty day moving average is $149.16 and its 200 day moving average is $134.15.

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 paid a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.03%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. Blackstone’s payout ratio is presently 121.55%.

Analyst Ratings Changes

BX has been the topic of several analyst reports. BMO Capital Markets lifted their target price on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Morgan Stanley lifted their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Barclays lifted their target price on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. UBS Group boosted their price objective on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, The Goldman Sachs Group boosted their price objective on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $155.38.

Blackstone Profile

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.