Blackstone Inc. (NYSE:BX) Shares Sold by SageView Advisory Group LLC

SageView Advisory Group LLC reduced its holdings in Blackstone Inc. (NYSE:BX) by 62.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,956 shares of the asset manager’s stock after selling 9,992 shares during the period. SageView Advisory Group LLC’s holdings in Blackstone were worth $758,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. WealthPlan Investment Management LLC boosted its holdings in Blackstone by 914.4% during the third quarter. WealthPlan Investment Management LLC now owns 21,697 shares of the asset manager’s stock worth $2,325,000 after buying an additional 19,558 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Blackstone by 11.7% during the third quarter. Assenagon Asset Management S.A. now owns 15,059 shares of the asset manager’s stock worth $1,613,000 after buying an additional 1,583 shares in the last quarter. Retirement Systems of Alabama purchased a new stake in Blackstone during the third quarter worth $17,194,000. Childress Capital Advisors LLC purchased a new position in Blackstone during the third quarter valued at $179,000. Finally, GYL Financial Synergies LLC purchased a new position in Blackstone during the third quarter valued at $207,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat bought 219 shares of Blackstone stock in a transaction on Monday, May 6th. The stock was bought at an average price of $119.48 per share, with a total value of $26,166.12. Following the completion of the acquisition, the director now owns 34,445 shares in the company, valued at $4,115,488.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction dated Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ruth Porat acquired 219 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were bought at an average cost of $119.48 per share, with a total value of $26,166.12. Following the purchase, the director now owns 34,445 shares in the company, valued at $4,115,488.60. The disclosure for this purchase can be found here. 1.00% of the stock is owned by corporate insiders.

Blackstone Stock Performance

Shares of Blackstone stock opened at $123.64 on Monday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $124.85 and its two-hundred day moving average is $122.19. Blackstone Inc. has a 52 week low of $81.94 and a 52 week high of $133.56. The firm has a market capitalization of $88.36 billion, a P/E ratio of 43.69, a P/E/G ratio of 1.03 and a beta of 1.52.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same period last year, the company earned $0.97 earnings per share. The company’s revenue for the quarter was up 166.9% on a year-over-year basis. Research analysts forecast that Blackstone Inc. will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Friday, April 26th. Blackstone’s dividend payout ratio (DPR) is currently 117.31%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Piper Sandler decreased their price objective on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. JPMorgan Chase & Co. reduced their target price on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. TD Cowen reduced their target price on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, April 19th. Argus increased their target price on shares of Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Barclays reiterated an “equal weight” rating and issued a $125.00 target price (down from $129.00) on shares of Blackstone in a research report on Friday, April 19th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $123.65.

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.