Mayflower Financial Advisors LLC Cuts Stock Position in Blackstone Inc. (NYSE:BX)

Mayflower Financial Advisors LLC reduced its stake in Blackstone Inc. (NYSE:BX) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,357 shares of the asset manager’s stock after selling 272 shares during the period. Mayflower Financial Advisors LLC’s holdings in Blackstone were worth $1,433,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BX. Chilton Capital Management LLC bought a new stake in Blackstone during the 1st quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Blackstone in the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC purchased a new stake in Blackstone during the 2nd quarter valued at $27,000. West Financial Advisors LLC purchased a new position in shares of Blackstone in the third quarter worth $27,000. Finally, Bank & Trust Co purchased a new stake in shares of Blackstone during the second quarter valued at $29,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Blackstone news, insider John G. Finley sold 42,249 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares in the company, valued at approximately $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. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of several research analyst reports. UBS Group upped their target price on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, October 16th. Citigroup raised their target price on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Morgan Stanley increased their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. The Goldman Sachs Group upped their price objective on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Barclays upped their price target on shares of Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $155.38.

Blackstone Trading Up 0.7 %

Shares of Blackstone stock opened at $177.46 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. The company has a fifty day moving average of $157.11 and a 200 day moving average of $137.98. The company has a market capitalization of $128.13 billion, a P/E ratio of 60.98, a P/E/G ratio of 1.51 and a beta of 1.49. Blackstone Inc. has a fifty-two week low of $96.15 and a fifty-two week high of $178.63.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. On average, sell-side analysts anticipate that Blackstone Inc. will post 4.39 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were issued a $0.86 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s payout ratio is currently 118.21%.

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.