Fayez Sarofim & Co Purchases 468 Shares of Blackstone Inc. (NYSE:BX)

Fayez Sarofim & Co grew its holdings in Blackstone Inc. (NYSE:BX) by 0.0% in the 4th quarter, HoldingsChannel reports. The firm owned 1,199,419 shares of the asset manager’s stock after buying an additional 468 shares during the quarter. Fayez Sarofim & Co’s holdings in Blackstone were worth $206,804,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bangor Savings Bank increased its holdings in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 105 shares during the period. Hager Investment Management Services LLC bought a new position in Blackstone in the fourth quarter worth about $28,000. Centricity Wealth Management LLC bought a new stake in shares of Blackstone in the 4th quarter valued at about $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Blackstone in the 4th quarter worth $33,000. Finally, Berbice Capital Management LLC purchased a new stake in Blackstone in the fourth quarter valued at about $34,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Up 0.7 %

NYSE:BX opened at $130.26 on Monday. The stock has a market capitalization of $95.01 billion, a price-to-earnings ratio of 35.88, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. 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 stock’s fifty day moving average is $145.13 and its two-hundred day moving average is $164.95. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96.

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

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Monday, April 28th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.86%. Blackstone’s dividend payout ratio is currently 158.68%.

Insider Transactions at Blackstone

In other news, Director Ruth Porat acquired 301 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now owns 36,829 shares of the company’s stock, valued at $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wells Fargo & Company cut their target price on Blackstone from $160.00 to $139.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. raised their price objective on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Bank of America cut their price target on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Barclays dropped their price objective on shares of Blackstone from $186.00 to $129.00 and set an “equal weight” rating on the stock in a report on Monday, April 7th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, January 31st. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $155.72.

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.