Blackstone Inc. $BX Shares Sold by Mayflower Financial Advisors LLC

Mayflower Financial Advisors LLC reduced its position in Blackstone Inc. (NYSE:BX) by 11.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,126 shares of the asset manager’s stock after selling 1,083 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Blackstone were worth $1,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. WNY Asset Management LLC increased its holdings in Blackstone by 1.7% in the 2nd quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager’s stock worth $576,000 after acquiring an additional 64 shares in the last quarter. Biltmore Family Office LLC increased its holdings in Blackstone by 5.6% in the 2nd quarter. Biltmore Family Office LLC now owns 2,024 shares of the asset manager’s stock worth $303,000 after acquiring an additional 107 shares in the last quarter. Redmond Asset Management LLC increased its holdings in Blackstone by 21.2% in the 2nd quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock worth $2,810,000 after acquiring an additional 3,281 shares in the last quarter. New York Life Investment Management LLC increased its holdings in Blackstone by 1.4% in the 2nd quarter. New York Life Investment Management LLC now owns 99,195 shares of the asset manager’s stock worth $14,838,000 after acquiring an additional 1,345 shares in the last quarter. Finally, Trust Investment Advisors increased its holdings in Blackstone by 34.6% in the 2nd quarter. Trust Investment Advisors now owns 7,834 shares of the asset manager’s stock worth $1,172,000 after acquiring an additional 2,014 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 113,000 shares of the company’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $175.69, for a total value of $19,852,970.00. Following the transaction, the director owned 695,757 shares of the company’s stock, valued at $122,237,547.33. This represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Private Multi-Asset Blackstone bought 2,538,071 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was bought at an average cost of $25.61 per share, for a total transaction of $64,999,998.31. Following the transaction, the insider directly owned 7,506,209 shares of the company’s stock, valued at $192,234,012.49. The trade was a 51.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 2,538,345 shares of company stock worth $65,046,628 and have sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is owned by insiders.

Blackstone Trading Down 1.3%

Shares of BX stock opened at $151.83 on Wednesday. The company’s 50-day moving average price is $169.59 and its 200-day moving average price is $156.43. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.60. The stock has a market cap of $111.91 billion, a price-to-earnings ratio of 43.38, a PEG ratio of 1.24 and a beta of 1.77. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96.

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

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Monday, November 3rd will be given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio is presently 117.71%.

Wall Street Analysts Forecast Growth

BX has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Keefe, Bruyette & Woods dropped their target price on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a report on Monday, October 13th. Evercore ISI dropped their target price on shares of Blackstone from $197.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a report on Tuesday, August 12th. Finally, BNP Paribas Exane dropped their target price on shares of Blackstone from $178.00 to $167.00 and set a “neutral” rating for the company in a report on Friday, October 24th. Eleven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Blackstone has a consensus rating of “Moderate Buy” and a consensus price target of $179.74.

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.