Blackstone Inc. $BX Stock Holdings Increased by Edgestream Partners L.P.

Edgestream Partners L.P. grew its position in shares of Blackstone Inc. (NYSE:BX) by 19.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,187 shares of the asset manager’s stock after buying an additional 6,059 shares during the period. Edgestream Partners L.P.’s holdings in Blackstone were worth $4,276,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Family CFO Inc bought a new position in Blackstone during the fourth quarter worth $28,000. Ares Financial Consulting LLC bought a new stake in Blackstone during the fourth quarter valued at $28,000. Richardson Financial Services Inc. acquired a new stake in shares of Blackstone during the fourth quarter worth $29,000. Strive Asset Management LLC acquired a new position in shares of Blackstone in the 3rd quarter valued at about $30,000. Finally, Palladiem LLC bought a new stake in shares of Blackstone during the 4th quarter valued at about $31,000. 70.00% of the stock is currently owned by institutional investors.

Insider Activity at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the sale, the insider directly owned 19,374 shares in the company, valued at approximately $73,233.72. The trade was a 99.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ruth Porat purchased 355 shares of Blackstone stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $123.04 per share, with a total value of $43,679.20. Following the completion of the purchase, the director owned 41,818 shares in the company, valued at approximately $5,145,286.72. This trade represents a 0.86% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 10,825,959 shares of company stock worth $224,789,900 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

Shares of BX stock opened at $128.18 on Friday. The business has a 50 day simple moving average of $121.67 and a 200 day simple moving average of $123.87. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.76. The firm has a market capitalization of $95.22 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 1.42 and a beta of 1.58. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.18. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The firm’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS. On average, equities research analysts anticipate that Blackstone Inc. will post 6 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be given a $1.29 dividend. The ex-dividend date is Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a yield of 4.0%. This is a boost from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s payout ratio is currently 103.80%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Weiss Ratings raised shares of Blackstone from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 24th. Zacks Research upgraded Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Argus raised their price target on Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group upped their price objective on Blackstone from $114.00 to $127.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, TD Cowen raised their target price on Blackstone from $133.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Thirteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.95.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.