Blackstone Inc. (NYSE:BX) Stock Position Lessened by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. lessened its stake in Blackstone Inc. (NYSE:BX) by 0.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 152,523 shares of the asset manager’s stock after selling 1,090 shares during the period. Blackstone accounts for 2.3% of Edgemoor Investment Advisors Inc.’s portfolio, making the stock its 12th biggest holding. Edgemoor Investment Advisors Inc.’s holdings in Blackstone were worth $26,298,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. State Street Corp grew its stake in shares of Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after purchasing an additional 348,751 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Blackstone by 2.3% in the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock worth $2,272,227,000 after acquiring an additional 336,308 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Blackstone by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,045,143 shares of the asset manager’s stock worth $697,464,000 after acquiring an additional 113,732 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Blackstone by 3.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,430,909 shares of the asset manager’s stock worth $525,375,000 after acquiring an additional 116,367 shares in the last quarter. Finally, FMR LLC increased its position in shares of Blackstone by 6.1% in the third quarter. FMR LLC now owns 2,155,068 shares of the asset manager’s stock worth $330,006,000 after acquiring an additional 124,462 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Up 3.3 %

Shares of NYSE:BX opened at $141.01 on Monday. Blackstone Inc. has a 52 week low of $115.82 and a 52 week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The company’s fifty day moving average is $165.90 and its 200-day moving average is $167.21. The company has a market capitalization of $102.86 billion, a PE ratio of 38.85, 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 earnings per share (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 research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a dividend of $1.44 per share. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a yield of 4.08%. Blackstone’s dividend payout ratio is presently 158.68%.

Analyst Ratings Changes

Several analysts recently commented on BX shares. UBS Group restated a “neutral” rating on shares of Blackstone in a report on Monday, March 3rd. Piper Sandler raised their price target on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Barclays reiterated an “equal weight” rating on shares of Blackstone in a research note on Friday, February 7th. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and lifted their target price for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, Wells Fargo & Company reduced their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $172.38.

Insider Buying and Selling at Blackstone

In related news, Director Ruth Porat purchased 301 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

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.