Taylor Financial Group Inc. Purchases 120 Shares of Blackstone Inc. $BX

Taylor Financial Group Inc. boosted its holdings in Blackstone Inc. (NYSE:BX) by 0.8% during the second quarter, Holdings Channel.com reports. The firm owned 15,240 shares of the asset manager’s stock after acquiring an additional 120 shares during the quarter. Blackstone comprises about 1.4% of Taylor Financial Group Inc.’s portfolio, making the stock its 17th largest holding. Taylor Financial Group Inc.’s holdings in Blackstone were worth $2,280,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of BX. Illinois Municipal Retirement Fund lifted its holdings in shares of Blackstone by 105.4% during the first quarter. Illinois Municipal Retirement Fund now owns 13,405 shares of the asset manager’s stock valued at $1,874,000 after purchasing an additional 6,878 shares in the last quarter. Kera Capital Partners Inc. purchased a new position in shares of Blackstone during the 2nd quarter valued at about $273,000. Sandy Cove Advisors LLC increased its stake in shares of Blackstone by 22.1% in the second quarter. Sandy Cove Advisors LLC now owns 12,042 shares of the asset manager’s stock worth $1,801,000 after purchasing an additional 2,182 shares in the last quarter. Bourgeon Capital Management LLC bought a new position in Blackstone in the 2nd quarter worth $423,000. Finally, Edmond DE Rothschild Holding S.A. raised its stake in Blackstone by 14.5% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 14,708 shares of the asset manager’s stock valued at $2,056,000 after purchasing an additional 1,863 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on BX shares. JMP Securities reiterated a “market outperform” rating and issued a $195.00 price target on shares of Blackstone in a research note on Friday. HSBC boosted their price objective on shares of Blackstone from $170.00 to $179.00 in a research report on Wednesday, October 15th. JPMorgan Chase & Co. dropped their price objective on Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a report on Friday. TD Cowen dropped their price objective on Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday. Finally, BMO Capital Markets began coverage on shares of Blackstone in a research note on Friday, October 3rd. They set an “outperform” rating and a $190.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $180.26.

Blackstone Trading Down 0.6%

NYSE BX opened at $153.70 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74. The company has a fifty day moving average of $169.89 and a 200 day moving average of $156.26. Blackstone Inc. has a 1 year low of $115.66 and a 1 year high of $200.96. The company has a market capitalization of $113.29 billion, a PE ratio of 43.91, a P/E/G ratio of 1.24 and a beta of 1.77.

Blackstone (NYSE:BX) last posted its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The firm had revenue of $2.49 billion during the quarter. Research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Monday, November 3rd will be issued a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, November 3rd. This is a boost from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s payout ratio is presently 147.43%.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $6.26, for a total value of $104,478,673.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John G. Finley sold 21,500 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the completion of the sale, the insider owned 453,836 shares of the company’s stock, valued at approximately $77,814,720.56. The trade was a 4.52% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders bought 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is owned by corporate insiders.

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.