Blackstone Inc. $BX Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. increased its stake in Blackstone Inc. (NYSE:BX) by 19.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,187 shares of the asset manager’s stock after acquiring 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.

Other large investors also recently bought and sold shares of the company. Centaurus Financial Inc. raised its position in shares of Blackstone by 3.1% in the 1st quarter. Centaurus Financial Inc. now owns 28,322 shares of the asset manager’s stock worth $3,257,000 after buying an additional 861 shares during the period. Arkadios Wealth Advisors grew its position in Blackstone by 34.1% during the first quarter. Arkadios Wealth Advisors now owns 75,028 shares of the asset manager’s stock valued at $8,627,000 after acquiring an additional 19,096 shares during the period. Sunbelt Securities Inc. raised its holdings in shares of Blackstone by 3.0% in the 1st quarter. Sunbelt Securities Inc. now owns 28,647 shares of the asset manager’s stock worth $3,294,000 after purchasing an additional 843 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Blackstone by 12.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 62,997 shares of the asset manager’s stock valued at $7,244,000 after purchasing an additional 6,996 shares in the last quarter. Finally, Resources Management Corp CT ADV increased its position in Blackstone by 10.1% during the 1st quarter. Resources Management Corp CT ADV now owns 39,411 shares of the asset manager’s stock worth $4,532,000 after purchasing an additional 3,629 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BX. BNP Paribas Exane decreased their price objective on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Citizens Jmp reduced their target price on shares of Blackstone from $190.00 to $165.00 and set a “market outperform” rating on the stock in a report on Thursday, July 9th. The Goldman Sachs Group increased their price target on Blackstone from $114.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Zacks Research upgraded Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Finally, Royal Bank Of Canada upped their target price on Blackstone from $161.00 to $169.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.95.

Insiders Place Their Bets

In related news, major shareholder Private Multi-Asset Blackstone purchased 573,614 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was acquired at an average price of $26.15 per share, with a total value of $15,000,006.10. Following the completion of the transaction, the insider owned 8,455,758 shares of the company’s stock, valued at $221,118,071.70. This represents a 7.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ruth Porat purchased 355 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $123.04 per share, with a total value of $43,679.20. Following the purchase, the director owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. The trade was a 0.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 10,825,959 shares of company stock worth $224,789,900 in the last quarter. Company insiders own 1.00% of the company’s stock.

Blackstone Price Performance

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

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.18. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The firm’s revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. Equities research analysts expect that Blackstone Inc. will post 6 EPS for the current fiscal year.

Blackstone Increases Dividend

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

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.