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

Key Points

• Sage Mountain Advisors LLC has reduced its stake in Blackstone Inc. by 23.7%, holding 5,804 shares valued at approximately $868,000 after selling 1,805 shares.
• Major shareholder Bx Buzz Ml-1 Gp LLC sold over 16.6 million shares at an average price of $6.26, amounting to a total value of around $104.48 million.
• Blackstone announced a quarterly dividend increase to $1.29 per share, reflecting a positive change from the previous $1.03, with an annualized yield of 3.3%.

Sage Mountain Advisors LLC cut its stake in Blackstone Inc. (NYSE:BX - Free Report) by 23.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,804 shares of the asset manager's stock after selling 1,805 shares during the period. Sage Mountain Advisors LLC's holdings in Blackstone were worth $868,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. 1248 Management LLC acquired a new stake in Blackstone during the 1st quarter valued at approximately $25,000. Family CFO Inc purchased a new position in shares of Blackstone during the 2nd quarter valued at approximately $28,000. Wealth Preservation Advisors LLC purchased a new position in shares of Blackstone during the 1st quarter valued at approximately $28,000. Anderson Financial Strategies LLC acquired a new position in Blackstone during the first quarter worth $28,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Blackstone during the second quarter worth $30,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total value of $104,478,673.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vikrant Sawhney sold 50,850 shares of Blackstone stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $173.64, for a total value of $8,829,594.00. Following the completion of the transaction, the insider directly owned 737,248 shares in the company, valued at $128,015,742.72. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. Corporate insiders own 1.00% of the company's stock.

Blackstone Stock Down 0.3%

Blackstone stock opened at $154.55 on Friday. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74. The stock's 50 day moving average price is $170.20 and its 200 day moving average price is $156.02. The company has a market cap of $113.92 billion, a PE ratio of 44.16, a price-to-earnings-growth ratio of 1.26 and a beta of 1.77.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The business had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. On average, sell-side analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Monday, November 3rd will be paid a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, November 3rd. This is a positive change from Blackstone's previous quarterly dividend of $1.03. Blackstone's dividend payout ratio is 117.71%.

Wall Street Analyst Weigh In

A number of research analysts have commented on BX shares. Piper Sandler decreased their target price on shares of Blackstone from $173.00 to $168.00 and set a "neutral" rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft set a $166.00 target price on shares of Blackstone and gave the company a "buy" rating in a research report on Friday. BNP Paribas Exane decreased their target price on shares of Blackstone from $178.00 to $167.00 and set a "neutral" rating on the stock in a research report on Friday. Wells Fargo & Company boosted their price target on shares of Blackstone from $153.00 to $167.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Finally, The Goldman Sachs Group upped their target price on shares of Blackstone from $172.00 to $173.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $180.26.

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.

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