Mayfair Advisory Group LLC Purchases 188 Shares of Blackstone Inc. (NYSE:BX)

Mayfair Advisory Group LLC boosted its holdings in shares of Blackstone Inc. (NYSE:BX) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,337 shares of the asset manager’s stock after buying an additional 188 shares during the quarter. Mayfair Advisory Group LLC’s holdings in Blackstone were worth $659,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its position in shares of Blackstone by 1.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after purchasing an additional 7,692 shares in the last quarter. Norden Group LLC raised its position in shares of Blackstone by 2,072.0% during the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after buying an additional 34,872 shares in the last quarter. Blue Trust Inc. lifted its position in Blackstone by 936.2% in the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock worth $783,000 after buying an additional 5,383 shares during the last quarter. Carret Asset Management LLC boosted its position in shares of Blackstone by 20.9% during the first quarter. Carret Asset Management LLC now owns 46,645 shares of the asset manager’s stock valued at $6,128,000 after buying an additional 8,050 shares during the period. Finally, Scientech Research LLC purchased a new stake in Blackstone in the second quarter worth $1,364,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Trading Down 1.3 %

Shares of BX stock opened at $167.50 on Friday. The company has a market cap of $119.70 billion, a price-to-earnings ratio of 59.19, a PEG ratio of 1.24 and a beta of 1.51. The stock has a 50 day simple moving average of $149.82 and a 200-day simple moving average of $134.39. 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 Inc. has a 1-year low of $88.59 and a 1-year high of $175.94.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is 121.55%.

Analysts Set New Price Targets

Several research firms have recently commented on BX. Barclays boosted their price target on shares of Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Evercore ISI upped their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Wells Fargo & Company boosted their target price on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Bank of America raised their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, BMO Capital Markets raised their price objective on Blackstone from $112.00 to $134.00 and gave the stock a “market perform” 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. According to data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $155.38.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were 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 in the company, valued at $56,567,311.64. The trade was 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.

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.