Sargent Investment Group LLC Purchases 2,674 Shares of Blackstone Inc. (NYSE:BX)

Sargent Investment Group LLC lifted its holdings in Blackstone Inc. (NYSE:BX) by 3.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 85,295 shares of the asset manager’s stock after acquiring an additional 2,674 shares during the period. Blackstone makes up approximately 2.3% of Sargent Investment Group LLC’s investment portfolio, making the stock its 8th largest position. Sargent Investment Group LLC’s holdings in Blackstone were worth $14,139,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BX. Glen Eagle Advisors LLC boosted its stake in Blackstone by 1.8% in the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after purchasing an additional 59 shares during the period. Investmark Advisory Group LLC boosted its position in shares of Blackstone by 2.4% in the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock valued at $399,000 after acquiring an additional 60 shares during the period. Raleigh Capital Management Inc. increased its holdings in Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in Blackstone by 2.3% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after purchasing an additional 62 shares during the period. Finally, Fidelis Capital Partners LLC increased its holdings in shares of Blackstone by 2.7% in the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Down 1.5 %

BX opened at $170.86 on Wednesday. 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 one year low of $115.82 and a one year high of $200.96. The firm has a market capitalization of $123.36 billion, a price-to-earnings ratio of 47.07, a PEG ratio of 1.18 and a beta of 1.53. The business has a 50 day simple moving average of $179.76 and a two-hundred day simple moving average of $162.89.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. Analysts predict that Blackstone Inc. will post 5.86 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be issued a $1.44 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a yield of 3.37%. Blackstone’s dividend payout ratio is 94.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BX. Evercore ISI upped their target price on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Keefe, Bruyette & Woods raised their target price on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a research note on Friday, January 31st. BMO Capital Markets increased their price target 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. Piper Sandler lifted their price objective on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $172.38.

Insider Transactions at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

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.