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

Sargent Investment Group LLC increased its position in Blackstone Inc. (NYSE:BX - Free Report) by 3.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,295 shares of the asset manager's stock after acquiring an additional 2,674 shares during the period. Blackstone comprises about 2.3% of Sargent Investment Group LLC's investment portfolio, making the stock its 8th biggest holding. Sargent Investment Group LLC's holdings in Blackstone were worth $14,139,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BX. AQR Capital Management LLC raised its stake in Blackstone by 123.6% during the 2nd quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager's stock worth $2,453,000 after acquiring an additional 10,952 shares during the period. Czech National Bank boosted its holdings in Blackstone by 7.7% in the 3rd quarter. Czech National Bank now owns 146,687 shares of the asset manager's stock worth $22,462,000 after buying an additional 10,504 shares during the period. GAMMA Investing LLC raised its holdings in Blackstone by 53.0% during the third quarter. GAMMA Investing LLC now owns 8,137 shares of the asset manager's stock valued at $1,246,000 after acquiring an additional 2,819 shares during the period. Diversified Trust Co grew its position in shares of Blackstone by 1.7% during the third quarter. Diversified Trust Co now owns 8,804 shares of the asset manager's stock worth $1,348,000 after purchasing an additional 143 shares in the last quarter. Finally, Fulton Bank N.A. raised its position in shares of Blackstone by 1.1% during the third quarter. Fulton Bank N.A. now owns 11,099 shares of the asset manager's stock valued at $1,700,000 after buying an additional 118 shares during the last quarter. Institutional investors own 70.00% of the company's stock.

Insider Activity

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

Blackstone Trading Up 2.4 %

BX traded up $4.16 on Wednesday, reaching $174.99. 3,227,860 shares of the company traded hands, compared to its average volume of 3,098,202. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The company has a market cap of $126.34 billion, a P/E ratio of 48.21, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53. The firm has a fifty day simple moving average of $179.34 and a two-hundred day simple moving average of $163.11. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping 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 expect that Blackstone Inc. will post 5.86 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th will be given a dividend of $1.44 per share. 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 3.29%. Blackstone's dividend payout ratio (DPR) is 94.77%.

Analysts Set New Price Targets

BX has been the topic of a number of research reports. Keefe, Bruyette & Woods lifted their price target on shares of Blackstone from $174.00 to $177.00 and gave the company a "market perform" rating in a report on Friday, January 31st. The Goldman Sachs Group increased their price target on Blackstone from $135.00 to $150.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Morgan Stanley upped their price objective on Blackstone from $164.00 to $177.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Cowen restated a "hold" rating on shares of Blackstone in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Blackstone from $172.00 to $182.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $172.38.

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.