Edgestream Partners L.P. Buys Shares of 14,640 Blackstone Inc. (NYSE:BX)

Edgestream Partners L.P. acquired a new stake in Blackstone Inc. (NYSE:BX) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,640 shares of the asset manager’s stock, valued at approximately $2,524,000.

Other large investors have also made changes to their positions in the company. Sather Financial Group Inc increased its position in shares of Blackstone by 202.5% in the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after buying an additional 4,050 shares in the last quarter. Portside Wealth Group LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at $201,000. Aljian Capital Management LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at $1,951,000. Icon Wealth Advisors LLC boosted its stake in Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after purchasing an additional 18,117 shares during the period. Finally, Wealthcare Capital Partners LLC acquired a new position in Blackstone in the 4th quarter worth $2,102,000. Institutional investors own 70.00% of the company’s stock.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the stock in a transaction dated Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BX. UBS Group reaffirmed a “neutral” rating on shares of Blackstone in a research note on Monday, March 3rd. Keefe, Bruyette & Woods upped their target price on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. Piper Sandler upped their target price on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and increased their price objective for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, BMO Capital Markets increased their price objective on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus target price of $172.38.

Blackstone Trading Down 0.3 %

Shares of NYSE:BX opened at $145.12 on Monday. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company has a market capitalization of $105.86 billion, a P/E ratio of 39.98, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55. The company has a 50-day simple moving average of $169.33 and a 200 day simple moving average of $167.23. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating 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%. Sell-side analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 3.97%. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio is currently 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.