Mcintyre Freedman & Flynn Investment Advisers Inc. Has $10.26 Million Stock Position in Blackstone Inc. (NYSE:BX)

Mcintyre Freedman & Flynn Investment Advisers Inc. decreased its position in shares of Blackstone Inc. (NYSE:BX) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,498 shares of the asset manager’s stock after selling 628 shares during the quarter. Blackstone accounts for 7.7% of Mcintyre Freedman & Flynn Investment Advisers Inc.’s portfolio, making the stock its 2nd largest position. Mcintyre Freedman & Flynn Investment Advisers Inc.’s holdings in Blackstone were worth $10,259,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BX. Glen Eagle Advisors LLC raised its position in Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after buying an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC grew its stake in Blackstone by 0.4% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock valued at $2,790,000 after acquiring an additional 59 shares during the last quarter. Investmark Advisory Group LLC grew its stake in Blackstone by 2.4% in the 3rd quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after acquiring an additional 60 shares during the last quarter. McIlrath & Eck LLC boosted its stake in shares of Blackstone by 6.5% during the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after purchasing an additional 62 shares during the last quarter. Finally, McAdam LLC boosted its stake in shares of Blackstone by 3.9% during the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock worth $291,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on BX. Barclays reiterated an “equal weight” rating on shares of Blackstone in a report on Friday, February 7th. BMO Capital Markets lifted their price objective on shares of Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Citigroup reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, February 7th. Finally, StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $172.38.

Insider Buying and Selling

In related news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Blackstone Price Performance

Shares of NYSE BX opened at $139.24 on Tuesday. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The firm’s 50-day simple moving average is $168.67 and its 200 day simple moving average is $167.26. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock has a market cap of $101.56 billion, a P/E ratio of 38.36, a P/E/G ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Equities analysts expect that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a $1.44 dividend. The ex-dividend date was Monday, February 10th. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 4.14%. Blackstone’s payout ratio is 158.68%.

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.