Mcintyre Freedman & Flynn Investment Advisers Inc. Sells 628 Shares of Blackstone Inc. (NYSE:BX)

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

A number of other large investors have also recently added to or reduced their stakes in BX. Sather Financial Group Inc raised its stake in Blackstone by 202.5% during the third quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after acquiring an additional 4,050 shares in the last quarter. Aljian Capital Management LLC bought a new position in Blackstone in the third quarter valued at about $1,951,000. Icon Wealth Advisors LLC boosted its holdings in Blackstone by 2,185.4% in the third quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock valued at $2,901,000 after acquiring an additional 18,117 shares during the last quarter. Wealthcare Capital Partners LLC bought a new position in Blackstone in the fourth quarter valued at about $2,102,000. Finally, Highland Capital Management LLC boosted its holdings in Blackstone by 214.2% in the fourth quarter. Highland Capital Management LLC now owns 22,303 shares of the asset manager’s stock valued at $3,845,000 after acquiring an additional 15,205 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their target price on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. UBS Group restated a “neutral” rating on shares of Blackstone in a report on Monday, March 3rd. Citigroup restated a “hold” rating on shares of Blackstone in a report on Friday, February 7th. BMO Capital Markets raised their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Finally, Piper Sandler raised their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and an average price target of $172.38.

Blackstone Stock Down 4.1 %

NYSE:BX opened at $139.24 on Tuesday. The firm has a market capitalization of $101.56 billion, a price-to-earnings ratio of 38.36, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. Blackstone Inc. has a twelve month low of $115.82 and a twelve month high of $200.96. The stock’s 50 day moving average price is $168.67 and its two-hundred day moving average price 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.

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

Blackstone Increases Dividend

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

Insider Transactions at Blackstone

In other news, Director Ruth Porat bought 301 shares of the stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

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.