Edgestream Partners L.P. Acquires 19,305 Shares of Blackstone Inc. $BX

Edgestream Partners L.P. raised its stake in shares of Blackstone Inc. (NYSE:BX) by 505.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 23,123 shares of the asset manager’s stock after acquiring an additional 19,305 shares during the period. Edgestream Partners L.P.’s holdings in Blackstone were worth $3,459,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC grew its position in Blackstone by 519,669.1% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock worth $10,490,411,000 after purchasing an additional 70,118,948 shares during the period. Vanguard Group Inc. grew its holdings in shares of Blackstone by 2.2% in the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after acquiring an additional 1,494,796 shares during the period. Geode Capital Management LLC lifted its holdings in Blackstone by 1.4% in the second quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock valued at $2,462,706,000 after acquiring an additional 227,416 shares during the period. Norges Bank bought a new stake in shares of Blackstone during the 2nd quarter valued at about $1,071,348,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Blackstone by 16.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,292,320 shares of the asset manager’s stock worth $739,761,000 after purchasing an additional 742,829 shares during the period. Institutional investors own 70.00% of the company’s stock.

Insider Transactions at Blackstone

In other news, Director Ruth Porat acquired 324 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average cost of $146.92 per share, with a total value of $47,602.08. Following the acquisition, the director directly owned 39,077 shares of the company’s stock, valued at approximately $5,741,192.84. The trade was a 0.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 385,208 shares of Blackstone stock in a transaction that occurred 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 transaction, the insider directly owned 16,332,883 shares of the company’s stock, valued at $424,001,642.68. The trade was a 2.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 2,950,751 shares of company stock valued at $79,050,138. 1.00% of the stock is owned by insiders.

Blackstone Stock Up 3.2%

Shares of BX opened at $151.43 on Thursday. The business’s 50 day moving average is $153.00 and its 200 day moving average is $158.00. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $194.00. The company has a market capitalization of $111.83 billion, a PE ratio of 43.27, a price-to-earnings-growth ratio of 1.17 and a beta of 1.76.

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

Blackstone Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.4%. Blackstone’s dividend payout ratio (DPR) is 147.43%.

Analyst Upgrades and Downgrades

BX has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their target price on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a report on Monday, October 13th. HSBC reduced their price objective on Blackstone from $179.00 to $178.00 in a research note on Monday, October 27th. JMP Securities reissued a “market outperform” rating and set a $195.00 price target on shares of Blackstone in a report on Friday, October 24th. BMO Capital Markets decreased 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. Finally, The Goldman Sachs Group increased their target price on shares of Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.00.

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.