Blackstone Inc. (NYSE:BX) Shares Sold by Sargent Investment Group LLC

Sargent Investment Group LLC reduced its stake in Blackstone Inc. (NYSE:BX - Free Report) by 3.5% during the third quarter, according to the company in its most recent 13F filing 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 quarter. Blackstone comprises approximately 2.3% of Sargent Investment Group LLC's holdings, making the stock its 11th largest position. Sargent Investment Group LLC's holdings in Blackstone were worth $12,652,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Blackstone during the 2nd quarter valued at $26,000. EdgeRock Capital LLC purchased a new stake in Blackstone during the 2nd quarter valued at $27,000. West Financial Advisors LLC purchased a new stake in Blackstone during the 3rd quarter valued at $27,000. Bank & Trust Co purchased a new stake in Blackstone during the 2nd quarter valued at $29,000. Finally, Ridgewood Investments LLC purchased a new stake in Blackstone during the 2nd quarter valued at $31,000. 70.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BX. Redburn Atlantic began coverage on Blackstone in a research note on Tuesday, August 27th. They issued a "neutral" rating and a $134.00 price objective for the company. Barclays upped their price objective on Blackstone from $155.00 to $174.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. Bank of America upped their price objective on Blackstone from $171.00 to $192.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. Evercore ISI upped their target price on shares of Blackstone from $148.00 to $155.00 and gave the stock an "outperform" rating in a report on Monday, October 14th. Finally, Piper Sandler downgraded shares of Blackstone from an "overweight" rating to a "neutral" rating and set a $149.00 target price for the company. in a report on Wednesday, October 9th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Blackstone currently has an average rating of "Hold" and an average price target of $157.63.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 42,249 shares of the firm'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 value of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the firm's 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 completion of the sale, the director now owns 799,749 shares of the company's stock, valued at approximately $120,610,146.69. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Blackstone Trading Down 0.2 %

Shares of NYSE:BX traded down $0.35 during trading on Thursday, reaching $181.21. The company's stock had a trading volume of 2,416,738 shares, compared to its average volume of 3,419,615. 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 12 month low of $102.59 and a 12 month high of $184.34. The firm's 50 day simple moving average is $159.65 and its two-hundred day simple moving average is $139.31. The stock has a market capitalization of $130.83 billion, a PE ratio of 62.39, a price-to-earnings-growth ratio of 1.55 and a beta of 1.49.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. On average, research analysts predict that Blackstone Inc. will post 4.39 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a dividend of $0.86 per share. The ex-dividend date was Monday, October 28th. This is a positive change from Blackstone's previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.90%. Blackstone's dividend payout ratio (DPR) is 118.21%.

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.