Dudley Capital Management LLC Has $3.83 Million Holdings in Blackstone Inc. (NYSE:BX)

Dudley Capital Management LLC lowered its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,004 shares of the asset manager’s stock after selling 298 shares during the period. Blackstone comprises 2.0% of Dudley Capital Management LLC’s portfolio, making the stock its 12th largest holding. Dudley Capital Management LLC’s holdings in Blackstone were worth $3,829,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Chilton Capital Management LLC acquired a new stake in Blackstone in the 1st quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Blackstone in the 2nd quarter worth about $26,000. EdgeRock Capital LLC acquired a new stake in shares of Blackstone during the 2nd quarter worth about $27,000. West Financial Advisors LLC bought a new stake in Blackstone during the third quarter worth about $27,000. Finally, Bank & Trust Co acquired a new stake in shares of Blackstone during the second quarter worth approximately $29,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity

In other news, Director Joseph Baratta sold 116,448 shares of the business’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 in the company, valued at $120,610,146.69. 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 the SEC website. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BX. Cowen restated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Redburn Atlantic started coverage on shares of Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Citigroup upped their price target on Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Morgan Stanley boosted their price objective on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $155.38.

Blackstone Price Performance

BX opened at $176.30 on Friday. The company has a fifty day simple moving average of $155.70 and a 200 day simple moving average of $137.33. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $127.29 billion, a P/E ratio of 60.58, a P/E/G ratio of 1.43 and a beta of 1.49. Blackstone Inc. has a 12 month low of $96.15 and a 12 month high of $178.30.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a dividend of $0.86 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Blackstone Company 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.