Stamos Capital Partners L.P. Has $1.51 Million Position in Blackstone Inc. (NYSE:BX)

Stamos Capital Partners L.P. raised its stake in Blackstone Inc. (NYSE:BX) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,780 shares of the asset manager’s stock after buying an additional 830 shares during the period. Stamos Capital Partners L.P.’s holdings in Blackstone were worth $1,514,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Morse Asset Management Inc increased its stake in shares of Blackstone by 0.7% in the third quarter. Morse Asset Management Inc now owns 11,232 shares of the asset manager’s stock valued at $1,720,000 after buying an additional 80 shares during the period. McIlrath & Eck LLC raised its stake in shares of Blackstone by 6.5% during the third quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock valued at $156,000 after acquiring an additional 62 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Blackstone during the third quarter worth $5,163,000. Stock Yards Bank & Trust Co. increased its holdings in Blackstone by 2.5% in the third quarter. Stock Yards Bank & Trust Co. now owns 25,865 shares of the asset manager’s stock valued at $3,961,000 after purchasing an additional 624 shares during the period. Finally, World Investment Advisors LLC lifted its holdings in Blackstone by 1.8% during the 3rd quarter. World Investment Advisors LLC now owns 69,523 shares of the asset manager’s stock worth $10,646,000 after buying an additional 1,238 shares during the period. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Price Performance

BX stock opened at $127.19 on Friday. The company has a market capitalization of $92.77 billion, a P/E ratio of 35.04, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The business has a 50-day simple moving average of $149.11 and a two-hundred day simple moving average of $165.63. 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 EPS for the quarter, beating 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%. Research analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were issued a $1.44 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a dividend yield of 4.53%. Blackstone’s dividend payout ratio is currently 158.68%.

Insider Buying and Selling

In related news, Director Ruth Porat acquired 301 shares of the stock in a transaction on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent analyst reports. Citizens Jmp raised Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price objective on the stock in a research note on Tuesday, April 8th. Bank of America reduced their price objective on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Piper Sandler decreased their target price on Blackstone from $182.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company cut their price target on Blackstone from $160.00 to $139.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $157.22.

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.