Childress Capital Advisors LLC Purchases Shares of 1,688 Blackstone Inc. (NYSE:BX)

Childress Capital Advisors LLC acquired a new position in Blackstone Inc. (NYSE:BX) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,688 shares of the asset manager’s stock, valued at approximately $258,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Raleigh Capital Management Inc. boosted its holdings in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after buying an additional 62 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock worth $427,000 after buying an additional 62 shares in the last quarter. Fidelis Capital Partners LLC boosted its holdings in Blackstone by 2.7% during the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after buying an additional 62 shares in the last quarter. Trust Co. of Vermont boosted its holdings in Blackstone by 3.1% during the third quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock worth $343,000 after buying an additional 67 shares in the last quarter. Finally, CVA Family Office LLC lifted its holdings in Blackstone by 6.4% during the third quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock valued at $187,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Activity

In other news, insider John G. Finley sold 35,000 shares of the firm’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 completion of the transaction, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This trade 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 the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on 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 completion of the transaction, the director now 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred on 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 transaction, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Price Performance

Shares of BX opened at $171.55 on Thursday. Blackstone Inc. has a 1-year low of $91.14 and a 1-year high of $175.94. The stock has a market cap of $122.60 billion, a PE ratio of 60.62, a P/E/G ratio of 1.24 and a beta of 1.51. The firm has a 50-day simple moving average of $152.67 and a two-hundred day simple moving average of $135.62. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be given a dividend of $0.86 per share. The ex-dividend date is Monday, October 28th. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.01%. Blackstone’s dividend payout ratio (DPR) is currently 121.55%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BX. UBS Group increased their price objective on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. 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 research note on Friday, October 18th. Finally, Bank of America raised their price target on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock 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.