Cyndeo Wealth Partners LLC Has $4.26 Million Stock Holdings in Blackstone Inc. (NYSE:BX)

Cyndeo Wealth Partners LLC raised its holdings in shares of Blackstone Inc. (NYSE:BX) by 45.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 27,785 shares of the asset manager’s stock after buying an additional 8,700 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Blackstone were worth $4,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Blackstone by 2.0% during the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after buying an additional 1,290,324 shares in the last quarter. Capital World Investors lifted its holdings in shares of Blackstone by 7.5% during the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after buying an additional 2,546,886 shares in the last quarter. Wulff Hansen & CO. lifted its holdings in shares of Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after buying an additional 7,281,128 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Blackstone by 2.3% during the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock worth $775,758,000 after buying an additional 141,616 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Blackstone by 0.5% during the first quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock worth $613,581,000 after buying an additional 21,450 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred 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 directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

BX has been the subject of a number of research reports. The Goldman Sachs Group lifted their target price on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday. Cowen restated a “hold” rating on shares of Blackstone in a research report on Friday. JPMorgan Chase & Co. raised their price target on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday. Bank of America raised their price target on Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research report on Friday. Finally, UBS Group raised their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $152.41.

Blackstone Price Performance

Blackstone stock opened at $172.36 on Friday. The stock’s 50 day moving average is $147.01 and its 200 day moving average is $133.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $123.18 billion, a P/E ratio of 60.90, a P/E/G ratio of 1.24 and a beta of 1.51. Blackstone Inc. has a one year low of $88.59 and a one year high of $175.94.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. Blackstone’s revenue was up 166.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 earnings per share. As a group, research analysts expect that Blackstone Inc. will post 4.46 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be paid a $0.86 dividend. The ex-dividend date is 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 yield of 2.00%. Blackstone’s payout ratio is 115.90%.

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.