Sequoia Financial Advisors LLC Has $13.94 Million Stake in Blackstone Inc. (NYSE:BX)

Sequoia Financial Advisors LLC lifted its position in shares of Blackstone Inc. (NYSE:BX) by 1.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 91,051 shares of the asset manager’s stock after buying an additional 1,495 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Blackstone were worth $13,943,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Argus Investors Counsel Inc. grew its position in shares of Blackstone by 5.4% in the 3rd quarter. Argus Investors Counsel Inc. now owns 1,875 shares of the asset manager’s stock valued at $287,000 after buying an additional 96 shares during the last quarter. Oakworth Capital Inc. increased its position in Blackstone by 5.3% during the 3rd quarter. Oakworth Capital Inc. now owns 1,864 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 94 shares during the period. Foundations Investment Advisors LLC lifted its position in shares of Blackstone by 13.2% in the 3rd quarter. Foundations Investment Advisors LLC now owns 42,220 shares of the asset manager’s stock worth $6,465,000 after purchasing an additional 4,936 shares during the period. Roof Eidam Maycock Peralta LLC increased its position in shares of Blackstone by 15.1% during the third quarter. Roof Eidam Maycock Peralta LLC now owns 2,865 shares of the asset manager’s stock worth $439,000 after buying an additional 375 shares during the period. Finally, Raleigh Capital Management Inc. lifted its holdings in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares during the period. Institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday. Bank of America raised their price objective on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group raised their price target on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research report on Wednesday, October 9th. Finally, BMO Capital Markets increased their price target on Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a report on Friday. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $155.38.

Blackstone Stock Performance

Shares of Blackstone stock traded down $3.16 during trading hours on Tuesday, hitting $167.61. 1,190,659 shares of the company’s stock traded hands, compared to its average volume of 3,440,688. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market capitalization of $119.78 billion, a price-to-earnings ratio of 60.32, a PEG ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $175.94. The company has a fifty day simple moving average of $147.84 and a 200-day simple moving average of $133.63.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be paid a $0.86 dividend. The ex-dividend date is Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 2.05%. Blackstone’s payout ratio is presently 121.55%.

Insider Buying and Selling

In other news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Blackstone news, insider John G. Finley sold 35,000 shares of the firm’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 owns 429,386 shares in the company, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

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.