Sargent Investment Group LLC Sells 6,780 Shares of Blackstone Inc. $BX

Sargent Investment Group LLC lessened its stake in Blackstone Inc. (NYSE:BX) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,101 shares of the asset manager’s stock after selling 6,780 shares during the period. Blackstone comprises 1.7% of Sargent Investment Group LLC’s portfolio, making the stock its 14th biggest holding. Sargent Investment Group LLC’s holdings in Blackstone were worth $13,888,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Family CFO Inc acquired a new position in Blackstone in the fourth quarter worth about $28,000. Ares Financial Consulting LLC acquired a new position in Blackstone in the fourth quarter worth about $28,000. Richardson Financial Services Inc. acquired a new position in Blackstone in the fourth quarter worth about $29,000. Redmont Wealth Advisors LLC acquired a new position in Blackstone in the third quarter worth about $30,000. Finally, Strive Asset Management LLC acquired a new position in Blackstone in the third quarter worth about $30,000. Institutional investors own 70.00% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total value of $26,246,039.04. Following the completion of the sale, the insider owned 25,832 shares of the company’s stock, valued at $90,670.32. This trade represents a 99.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ruth Porat purchased 355 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $123.04 per share, with a total value of $43,679.20. Following the acquisition, the director owned 41,818 shares of the company’s stock, valued at $5,145,286.72. This represents a 0.86% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 12,355,303 shares of company stock valued at $264,789,896 over the last quarter. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BX. Oppenheimer increased their price target on shares of Blackstone from $154.00 to $156.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Sanford C. Bernstein initiated coverage on shares of Blackstone in a research report on Monday, June 8th. They issued an “outperform” rating for the company. Evercore reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Blackstone in a report on Tuesday, April 21st. BMO Capital Markets raised their price objective on shares of Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, Morgan Stanley dropped their price objective on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Blackstone currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.86.

Blackstone Stock Performance

NYSE BX opened at $122.63 on Monday. The firm has a market cap of $91.10 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 1.33 and a beta of 1.59. The company has a 50 day moving average of $119.98 and a 200-day moving average of $130.96. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The business had revenue of $3.43 billion during the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. Blackstone’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.11 earnings per share. On average, equities analysts forecast that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a $1.16 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.8%. Blackstone’s dividend payout ratio (DPR) is currently 118.67%.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.