Fayez Sarofim & Co Buys 43,921 Shares of Blackstone Inc. $BX

Fayez Sarofim & Co grew its position in shares of Blackstone Inc. (NYSE:BX) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,246,371 shares of the asset manager’s stock after acquiring an additional 43,921 shares during the quarter. Fayez Sarofim & Co owned 0.17% of Blackstone worth $186,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Traub Capital Management LLC bought a new position in shares of Blackstone during the 2nd quarter worth approximately $27,000. 1248 Management LLC bought a new stake in Blackstone during the first quarter worth $25,000. Family CFO Inc bought a new position in Blackstone in the 2nd quarter valued at $28,000. Wealth Preservation Advisors LLC bought a new stake in shares of Blackstone during the 1st quarter worth $28,000. Finally, Anderson Financial Strategies LLC purchased a new position in shares of Blackstone in the 1st quarter worth about $28,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on BX shares. HSBC lowered their price objective on shares of Blackstone from $179.00 to $178.00 in a research report on Monday, October 27th. BMO Capital Markets dropped their price objective on Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Jefferies Financial Group lowered their target price on Blackstone from $199.00 to $187.00 in a research note on Monday, November 10th. Barclays cut their price target on Blackstone from $171.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, October 24th. Finally, TD Cowen dropped their price objective on shares of Blackstone from $208.00 to $205.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Eleven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, Blackstone has an average rating of “Moderate Buy” and a consensus target price of $179.00.

Insider Buying and Selling

In other Blackstone news, Director James Breyer acquired 13,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was bought at an average price of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the purchase, the director owned 68,906 shares of the company’s stock, valued at approximately $9,912,817.16. This represents a 25.27% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 385,208 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was acquired at an average price of $25.96 per share, for a total transaction of $9,999,999.68. Following the completion of the purchase, the insider directly owned 16,332,883 shares in the company, valued at approximately $424,001,642.68. The trade was a 2.42% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 2,950,751 shares of company stock valued at $79,050,138 in the last ninety days. 1.00% of the stock is owned by insiders.

Blackstone Stock Performance

Shares of BX opened at $151.14 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $111.61 billion, a price-to-earnings ratio of 43.18, a price-to-earnings-growth ratio of 1.21 and a beta of 1.76. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $194.00. The stock’s 50-day simple moving average is $151.54 and its 200 day simple moving average is $158.34.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The firm had revenue of $2.49 billion for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. Research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were given a dividend of $1.29 per share. This is an increase from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.4%. Blackstone’s dividend payout ratio (DPR) is presently 147.43%.

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.