Stiles Financial Services Inc Decreases Holdings in Blackstone Inc. (NYSE:BX)

Stiles Financial Services Inc decreased its position in Blackstone Inc. (NYSE:BX) by 4.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,633 shares of the asset manager’s stock after selling 605 shares during the period. Stiles Financial Services Inc’s holdings in Blackstone were worth $2,240,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BX. Chilton Capital Management LLC purchased a new position in Blackstone in the 1st quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Blackstone during 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 stake in Blackstone during the 3rd quarter valued at $27,000. Finally, Bank & Trust Co bought a new position in Blackstone in the 2nd quarter valued at $29,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 0.2 %

Shares of BX opened at $176.66 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.77. Blackstone Inc. has a 12 month low of $96.15 and a 12 month high of $178.30. The stock’s 50-day moving average is $155.70 and its two-hundred day moving average is $137.33. The stock has a market cap of $127.55 billion, a PE ratio of 60.58, a P/E/G ratio of 1.43 and a beta of 1.49.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were issued a dividend of $0.86 per share. The ex-dividend date of this dividend was Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a dividend yield of 1.95%. Blackstone’s dividend payout ratio is 118.21%.

Insider Buying and Selling

In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction 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 completion of the sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This 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 at this link. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BX shares. Deutsche Bank Aktiengesellschaft raised their price objective on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Wells Fargo & Company lifted their price target on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their price target on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. UBS Group lifted their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, Cowen restated a “hold” rating on shares of Blackstone in a 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $155.38.

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.