Stiles Financial Services Inc Has $2.24 Million Holdings in Blackstone Inc. (NYSE:BX)

Stiles Financial Services Inc cut its position in Blackstone Inc. (NYSE:BX) by 4.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,633 shares of the asset manager’s stock after selling 605 shares during the quarter. Stiles Financial Services Inc’s holdings in Blackstone were worth $2,240,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AIA Group Ltd grew its position in Blackstone by 35.4% in the 3rd quarter. AIA Group Ltd now owns 39,562 shares of the asset manager’s stock worth $6,058,000 after purchasing an additional 10,352 shares during the last quarter. Presidio Capital Management LLC grew its position in Blackstone by 19.5% in the 3rd quarter. Presidio Capital Management LLC now owns 4,304 shares of the asset manager’s stock worth $659,000 after purchasing an additional 703 shares during the last quarter. TFB Advisors LLC lifted its holdings in shares of Blackstone by 3.5% during the 3rd quarter. TFB Advisors LLC now owns 5,692 shares of the asset manager’s stock worth $872,000 after acquiring an additional 193 shares during the period. Tandem Investment Advisors Inc. lifted its holdings in shares of Blackstone by 12.4% during the 3rd quarter. Tandem Investment Advisors Inc. now owns 4,520 shares of the asset manager’s stock worth $692,000 after acquiring an additional 500 shares during the period. Finally, Portside Wealth Group LLC bought a new position in shares of Blackstone during the 3rd quarter worth about $201,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Stock Performance

Shares of BX stock opened at $176.66 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company’s fifty day simple moving average is $155.70 and its 200-day simple moving average is $137.33. Blackstone Inc. has a 12 month low of $96.15 and a 12 month high of $178.30. The firm 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Monday, October 28th were paid a $0.86 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 1.95%. Blackstone’s payout ratio is 118.21%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BX shares. Redburn Atlantic began coverage on shares of Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective for the company. Evercore ISI lifted 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. Citigroup lifted their price target on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Cowen reissued a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Finally, Bank of America raised their price objective on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $155.38.

Insider Activity

In other news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Blackstone Company 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.