Oxbow Advisors LLC Increases Stock Position in Blackstone Inc. (NYSE:BX)

Oxbow Advisors LLC increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,736 shares of the asset manager’s stock after purchasing an additional 198 shares during the period. Oxbow Advisors LLC’s holdings in Blackstone were worth $4,265,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Sather Financial Group Inc boosted its position in Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares during the period. Portside Wealth Group LLC purchased a new stake in Blackstone during the 3rd quarter worth $201,000. Aljian Capital Management LLC purchased a new stake in Blackstone during the 3rd quarter worth $1,951,000. Icon Wealth Advisors LLC boosted its position in Blackstone by 2,185.4% during the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after purchasing an additional 18,117 shares during the period. Finally, Wealthcare Capital Partners LLC acquired a new position in Blackstone in the 4th quarter worth $2,102,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Price Performance

Shares of NYSE:BX opened at $158.21 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The firm has a 50-day simple moving average of $173.58 and a 200 day simple moving average of $165.23. The company has a market cap of $114.23 billion, a PE ratio of 43.58, a P/E/G ratio of 1.09 and a beta of 1.53.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating 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%. On average, sell-side analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a dividend of $1.44 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a yield of 3.64%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s payout ratio is presently 158.68%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a report on Friday, January 31st. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $149.00 to $230.00 in a report on Monday, December 9th. BMO Capital Markets boosted their price objective on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Wells Fargo & Company cut their price objective on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Finally, Barclays cut their target price on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $172.38.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 301 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were purchased at an average price of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. The trade was 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. 1.00% of the stock is owned by company insiders.

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.