Edmond DE Rothschild Holding S.A. Sells 400 Shares of Blackstone Inc. (NYSE:BX)

Edmond DE Rothschild Holding S.A. decreased its position in Blackstone Inc. (NYSE:BX) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,845 shares of the asset manager’s stock after selling 400 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Blackstone were worth $2,215,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Axiom Investors LLC DE lifted its holdings in shares of Blackstone by 61.2% during the fourth quarter. Axiom Investors LLC DE now owns 1,984,892 shares of the asset manager’s stock valued at $342,235,000 after purchasing an additional 753,766 shares during the last quarter. Hazlett Burt & Watson Inc. raised its stake in Blackstone by 36.2% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 376 shares of the asset manager’s stock valued at $65,000 after buying an additional 100 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Blackstone by 21.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 88,244 shares of the asset manager’s stock worth $15,215,000 after acquiring an additional 15,818 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Blackstone by 2.4% in the 4th quarter. Clearbridge Investments LLC now owns 383,771 shares of the asset manager’s stock worth $66,170,000 after purchasing an additional 8,844 shares during the last quarter. Finally, Walled Lake Planning & Wealth Management LLC grew its position in Blackstone by 30.9% during the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 1,978 shares of the asset manager’s stock valued at $341,000 after purchasing an additional 467 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Performance

NYSE:BX opened at $139.89 on Tuesday. The stock has a 50-day simple moving average of $160.06 and a two-hundred day simple moving average of $167.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone Inc. has a 52-week low of $115.82 and a 52-week high of $200.96. The firm has a market capitalization of $102.04 billion, a PE ratio of 38.54, a P/E/G ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a $1.44 dividend. This represents a $5.76 annualized dividend and a dividend yield of 4.12%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. Blackstone’s payout ratio is presently 158.68%.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods lifted their target price on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. UBS Group raised Blackstone from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a research report on Monday, March 17th. Wells Fargo & Company lowered their target price on shares of Blackstone from $180.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 20th. Finally, Piper Sandler boosted their price objective on shares of Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $171.13.

Insider Buying and Selling

In related news, Director Ruth Porat purchased 301 shares of Blackstone stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Blackstone Company 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.