Mayflower Financial Advisors LLC Has $1.43 Million Position in Blackstone Inc. (NYSE:BX)

Mayflower Financial Advisors LLC cut its holdings in shares of Blackstone Inc. (NYSE:BX) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Raleigh Capital Management Inc. boosted its stake 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 acquiring an additional 62 shares during the last quarter. Capital Advisors Ltd. LLC grew 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 valued at $427,000 after purchasing an additional 62 shares during the period. Fidelis Capital Partners LLC raised its stake in shares of Blackstone by 2.7% in the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after buying an additional 62 shares during the period. Harbor Capital Advisors Inc. lifted its position in shares of Blackstone by 0.5% during the third quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock worth $2,132,000 after acquiring an additional 64 shares in the last quarter. Finally, Lindbrook Capital LLC grew its position in shares of Blackstone by 1.1% in the third quarter. Lindbrook Capital LLC now owns 5,743 shares of the asset manager’s stock valued at $879,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the sale, the insider now directly 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 sale was disclosed in a filing with the SEC, which is available at this link. 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 value of $17,561,522.88. Following the transaction, the director now 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 company insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. Morgan Stanley raised their target price on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group boosted their price objective on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Evercore ISI raised their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Redburn Atlantic assumed coverage on Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their target price on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $155.38.

Blackstone Stock Performance

NYSE BX opened at $177.46 on Friday. The firm has a market cap of $128.13 billion, a price-to-earnings ratio of 60.98, a PEG ratio of 1.51 and a beta of 1.49. The company has a 50-day simple moving average of $157.11 and a two-hundred day simple moving average of $137.98. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a 12-month low of $96.15 and a 12-month high of $178.63.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, equities analysts forecast that Blackstone Inc. will post 4.39 EPS for the current year.

Blackstone Increases Dividend

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

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.