Blackstone Inc. (NYSE:BX) Shares Sold by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC reduced its stake in Blackstone Inc. (NYSE:BX) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,433 shares of the asset manager’s stock after selling 122 shares during the period. Sage Mountain Advisors LLC’s holdings in Blackstone were worth $1,282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bangor Savings Bank boosted its stake in Blackstone by 187.5% in the fourth 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 acquired a new position in shares of Blackstone during the fourth quarter worth approximately $28,000. Centricity Wealth Management LLC acquired a new position in shares of Blackstone during the fourth quarter worth approximately $30,000. Roxbury Financial LLC acquired a new position in shares of Blackstone during the fourth quarter worth approximately $34,000. Finally, Berbice Capital Management LLC acquired a new position in shares of Blackstone during the fourth quarter worth approximately $34,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Blackstone

In related news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased 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 $6,071,260.65. This trade represents 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 the SEC website. 1.00% of the stock is currently owned by company insiders.

Blackstone Trading Down 4.1 %

NYSE:BX opened at $139.24 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone Inc. has a fifty-two week low of $115.82 and a fifty-two week high of $200.96. The stock’s 50-day moving average is $168.67 and its two-hundred day moving average is $167.26. The stock has a market cap of $101.56 billion, a PE ratio of 38.36, a price-to-earnings-growth 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 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. As a group, equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a $1.44 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 annualized dividend and a dividend yield of 4.14%. Blackstone’s payout ratio is presently 158.68%.

Analyst Ratings Changes

BX has been the subject of several analyst reports. StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Piper Sandler upped their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Citigroup restated a “hold” rating on shares of Blackstone in a research report on Friday, February 7th. Keefe, Bruyette & Woods upped their target price on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research report on Friday, January 31st. Finally, TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and upped their target price for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus price target of $172.38.

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.