Blackstone Inc. $BX Shares Bought by Sage Mountain Advisors LLC

Sage Mountain Advisors LLC boosted its holdings in Blackstone Inc. (NYSE:BX) by 87.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,855 shares of the asset manager’s stock after purchasing an additional 5,051 shares during the period. Sage Mountain Advisors LLC’s holdings in Blackstone were worth $1,854,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BX. Norges Bank bought a new position in shares of Blackstone during the second quarter worth about $1,071,348,000. Vanguard Group Inc. raised its position in shares of Blackstone by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock valued at $10,394,670,000 after acquiring an additional 1,494,796 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in Blackstone by 31.9% in the second quarter. Lazard Asset Management LLC now owns 3,803,344 shares of the asset manager’s stock worth $568,902,000 after purchasing an additional 919,773 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Blackstone by 115.4% during the second quarter. Canada Pension Plan Investment Board now owns 1,088,786 shares of the asset manager’s stock worth $162,861,000 after purchasing an additional 583,384 shares during the period. Finally, Amundi boosted its holdings in shares of Blackstone by 19.9% in the 2nd quarter. Amundi now owns 2,904,030 shares of the asset manager’s stock valued at $444,494,000 after buying an additional 482,528 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ruth Porat acquired 324 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average cost of $146.92 per share, with a total value of $47,602.08. Following the completion of the transaction, the director owned 39,077 shares of the company’s stock, valued at approximately $5,741,192.84. This trade represents a 0.84% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. Following the sale, the insider owned 2,161 shares of the company’s stock, valued at approximately $21,610. This represents a 99.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders purchased 797,148 shares of company stock valued at $24,050,153 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Blackstone Stock Performance

BX opened at $159.83 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market cap of $118.03 billion, a PE ratio of 45.67, a P/E/G ratio of 1.15 and a beta of 1.75. The business has a fifty day simple moving average of $151.41 and a 200-day simple moving average of $161.43. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $190.09.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, October 23rd. The asset manager reported $1.52 EPS for the quarter, beating the consensus estimate of $1.23 by $0.29. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.14 billion. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.Blackstone’s revenue was down 15.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 earnings per share. As a group, equities analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were given a $1.29 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.2%. Blackstone’s payout ratio is currently 147.43%.

Analyst Ratings Changes

A number of equities analysts have issued reports on BX shares. Piper Sandler cut their target price on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. BMO Capital Markets lowered their price objective on Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. TD Cowen lowered their price target on shares of Blackstone from $205.00 to $183.00 and set a “buy” rating for the company in a research report on Wednesday, January 14th. Morgan Stanley raised their price target on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Finally, The Goldman Sachs Group boosted their price target on Blackstone from $173.00 to $174.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Ten equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average price target of $177.25.

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.