Mather Group LLC. Has $1.41 Million Stock Position in Blackstone Inc. (NYSE:BX)

Mather Group LLC. trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 10.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,179 shares of the asset manager’s stock after selling 1,085 shares during the quarter. Mather Group LLC.’s holdings in Blackstone were worth $1,406,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Logan Capital Management Inc. boosted its holdings in shares of Blackstone by 37.5% during the 4th quarter. Logan Capital Management Inc. now owns 4,125 shares of the asset manager’s stock worth $540,000 after buying an additional 1,125 shares during the period. Regal Investment Advisors LLC grew its position in shares of Blackstone by 7.9% in the fourth quarter. Regal Investment Advisors LLC now owns 3,006 shares of the asset manager’s stock valued at $394,000 after purchasing an additional 221 shares during the last quarter. Cullen Capital Management LLC increased its stake in shares of Blackstone by 62.1% in the fourth quarter. Cullen Capital Management LLC now owns 5,571 shares of the asset manager’s stock worth $729,000 after purchasing an additional 2,135 shares during the period. MGO One Seven LLC boosted its stake in Blackstone by 4.7% during the 4th quarter. MGO One Seven LLC now owns 23,647 shares of the asset manager’s stock valued at $3,096,000 after purchasing an additional 1,059 shares during the period. Finally, First Financial Bankshares Inc bought a new position in Blackstone in the 4th quarter worth approximately $105,063,000. 70.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider John G. Finley sold 35,000 shares of the firm’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 completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction dated 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 owns 429,386 shares in the company, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Blackstone Trading Up 0.2 %

Shares of BX stock opened at $149.44 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $106.80 billion, a P/E ratio of 52.81, a P/E/G ratio of 1.34 and a beta of 1.51. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $161.25. The firm has a 50-day moving average price of $142.79 and a 200 day moving average price of $131.54.

Blackstone (NYSE:BX) last released its quarterly earnings results 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 business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm’s revenue was up 166.9% on a year-over-year basis. During the same quarter last year, the company earned $0.93 earnings per share. Research analysts forecast that Blackstone Inc. will post 4.57 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Monday, July 29th. Blackstone’s dividend payout ratio is currently 115.90%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Piper Sandler upped their price objective on shares of Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Redburn Atlantic started coverage on Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. Barclays raised their price objective on Blackstone from $141.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, The Goldman Sachs Group upped their target price on Blackstone from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone has an average rating of “Hold” and an average target price of $133.06.

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.