Fayez Sarofim & Co Has $206.80 Million Position in Blackstone Inc. (NYSE:BX)

Fayez Sarofim & Co grew its stake in Blackstone Inc. (NYSE:BX) by 0.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,199,419 shares of the asset manager’s stock after buying an additional 468 shares during the period. Fayez Sarofim & Co owned 0.17% of Blackstone worth $206,804,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Avidian Wealth Enterprises LLC grew its position in shares of Blackstone by 0.4% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock worth $2,790,000 after buying an additional 59 shares during the period. McIlrath & Eck LLC boosted its position in shares of Blackstone by 6.5% during the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after purchasing an additional 62 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Blackstone by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock valued at $1,970,000 after buying an additional 62 shares during the period. McAdam LLC raised its stake in Blackstone by 3.9% during the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock worth $291,000 after buying an additional 63 shares during the period. Finally, CENTRAL TRUST Co grew its stake in Blackstone by 0.6% in the fourth quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager’s stock valued at $1,903,000 after acquiring an additional 63 shares during the period. 70.00% of the stock is owned by institutional investors.

Blackstone Trading Up 0.7 %

Shares of Blackstone stock opened at $130.26 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market cap of $95.01 billion, a price-to-earnings ratio of 35.88, a PEG ratio of 1.07 and a beta of 1.61. Blackstone Inc. has a twelve month low of $115.66 and a twelve month high of $200.96. The business has a 50-day moving average price of $145.13 and a 200-day moving average price of $164.95.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same quarter in the prior year, the company posted $0.98 earnings per share. Equities research analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 28th will be given a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a yield of 2.86%. Blackstone’s dividend payout ratio (DPR) is presently 158.68%.

Analyst Ratings Changes

Several research analysts have weighed in on BX shares. Piper Sandler lowered their price objective on shares of Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. TD Cowen lowered their price objective on Blackstone from $233.00 to $147.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Citigroup dropped their price objective on Blackstone from $190.00 to $137.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. JMP Securities upgraded shares of Blackstone from a “market perform” rating to a “market outperform” rating and set a $165.00 target price for the company in a report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $155.72.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat acquired 301 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was bought at an average price of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

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.