Edgemoor Investment Advisors Inc. Sells 1,090 Shares of Blackstone Inc. (NYSE:BX)

Edgemoor Investment Advisors Inc. trimmed its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 152,523 shares of the asset manager’s stock after selling 1,090 shares during the quarter. Blackstone accounts for 2.3% of Edgemoor Investment Advisors Inc.’s holdings, making the stock its 12th biggest position. Edgemoor Investment Advisors Inc.’s holdings in Blackstone were worth $26,298,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Signature Estate & Investment Advisors LLC boosted its holdings in shares of Blackstone by 23.6% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 3,918 shares of the asset manager’s stock valued at $600,000 after buying an additional 748 shares during the last quarter. Empirical Finance LLC boosted its holdings in shares of Blackstone by 55.8% in the 3rd quarter. Empirical Finance LLC now owns 4,272 shares of the asset manager’s stock valued at $654,000 after buying an additional 1,530 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Blackstone by 12.5% in the 3rd quarter. Empowered Funds LLC now owns 29,148 shares of the asset manager’s stock valued at $4,463,000 after buying an additional 3,236 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of Blackstone by 61.4% in the 3rd quarter. Natixis Advisors LLC now owns 329,139 shares of the asset manager’s stock valued at $50,401,000 after buying an additional 125,264 shares during the last quarter. Finally, Sather Financial Group Inc lifted its holdings in Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock valued at $926,000 after purchasing an additional 4,050 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Price Performance

Shares of BX opened at $141.01 on Monday. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The business’s 50 day moving average price is $165.90 and its two-hundred day moving average price is $167.21. The firm has a market cap of $102.86 billion, a PE ratio of 38.85, a price-to-earnings-growth ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, equities analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were issued a dividend of $1.44 per share. The ex-dividend date was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 4.08%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio is 158.68%.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat acquired 301 shares of the business’s 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. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Citigroup reaffirmed a “hold” rating on shares of Blackstone in a report on Friday, February 7th. JPMorgan Chase & Co. raised their price target on Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Wells Fargo & Company lowered their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Barclays restated an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. Finally, TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and lifted their target price for the company from $149.00 to $230.00 in a research report on Monday, December 9th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $172.38.

Blackstone Profile

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.