Sargent Investment Group LLC Sells 3,020 Shares of Blackstone Inc. (NYSE:BX)

Sargent Investment Group LLC decreased its holdings in Blackstone Inc. (NYSE:BX) by 3.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,621 shares of the asset manager’s stock after selling 3,020 shares during the period. Blackstone comprises approximately 2.3% of Sargent Investment Group LLC’s investment portfolio, making the stock its 11th biggest holding. Sargent Investment Group LLC’s holdings in Blackstone were worth $12,652,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its position in Blackstone by 8.0% during the 1st quarter. Russell Investments Group Ltd. now owns 218,645 shares of the asset manager’s stock worth $28,709,000 after buying an additional 16,170 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Blackstone by 7.7% in the 1st quarter. Kingsview Wealth Management LLC now owns 21,159 shares of the asset manager’s stock valued at $2,780,000 after acquiring an additional 1,519 shares during the last quarter. HBK Sorce Advisory LLC lifted its position in Blackstone by 24.8% during the 1st quarter. HBK Sorce Advisory LLC now owns 8,799 shares of the asset manager’s stock worth $1,156,000 after acquiring an additional 1,750 shares during the period. Orion Portfolio Solutions LLC lifted its holdings in shares of Blackstone by 21.8% in the 1st quarter. Orion Portfolio Solutions LLC now owns 34,222 shares of the asset manager’s stock valued at $4,496,000 after buying an additional 6,131 shares during the period. Finally, Leo Wealth LLC increased its position in Blackstone by 3.2% during the first quarter. Leo Wealth LLC now owns 6,066 shares of the asset manager’s stock worth $796,000 after buying an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

BX has been the topic of a number of research analyst reports. TD Cowen lifted their target price on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a report on Friday, October 18th. Evercore ISI boosted their price objective on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. The Goldman Sachs Group upped their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Barclays increased their price objective on Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their target price on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $157.63.

Blackstone Trading Up 1.0 %

Shares of BX stock traded up $1.75 on Thursday, hitting $183.31. The stock had a trading volume of 488,139 shares, compared to its average volume of 3,410,608. The firm has a market cap of $132.35 billion, a P/E ratio of 62.39, a PEG ratio of 1.55 and a beta of 1.49. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone Inc. has a twelve month low of $102.59 and a twelve month high of $184.34. The company has a fifty day moving average price of $159.65 and a two-hundred day moving average price of $139.31.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.37 billion. As a group, analysts forecast that Blackstone Inc. will post 4.39 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were given a dividend of $0.86 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 1.88%. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Insider Buying and Selling

In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

About Blackstone

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.