Sage Mountain Advisors LLC Grows Position in Blackstone Inc. $BX

Sage Mountain Advisors LLC raised its position in Blackstone Inc. (NYSE:BX) by 87.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,855 shares of the asset manager’s stock after buying an additional 5,051 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Blackstone were worth $1,854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Dynasty Wealth Management LLC acquired a new position in Blackstone in the 3rd quarter valued at $560,000. Vaughan David Investments LLC IL increased its stake in shares of Blackstone by 15.5% during the third quarter. Vaughan David Investments LLC IL now owns 8,948 shares of the asset manager’s stock worth $1,529,000 after acquiring an additional 1,204 shares during the period. Platform Technology Partners lifted its position in Blackstone by 4.3% in the third quarter. Platform Technology Partners now owns 23,956 shares of the asset manager’s stock valued at $4,093,000 after purchasing an additional 998 shares during the period. Live Oak Investment Partners acquired a new position in Blackstone during the 3rd quarter worth approximately $1,113,000. Finally, Americana Partners LLC acquired a new stake in shares of Blackstone in the 3rd quarter valued at approximately $220,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Blackstone

In related news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ruth Porat bought 324 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was acquired at an average cost of $146.92 per share, for a total transaction of $47,602.08. Following the purchase, the director owned 39,077 shares in the company, valued at approximately $5,741,192.84. This trade represents a 0.84% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 797,148 shares of company stock valued at $24,050,153. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. BMO Capital Markets reduced their target price on Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, October 27th. Morgan Stanley upped their target price on shares of Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. UBS Group dropped their price objective on Blackstone from $175.00 to $172.00 and set a “neutral” rating for the company in a research note on Tuesday, January 13th. TD Cowen cut their price target on Blackstone from $205.00 to $183.00 and set a “buy” rating for the company in a research note on Wednesday, January 14th. Finally, Evercore ISI dropped their target price on shares of Blackstone from $197.00 to $180.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. Ten equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $177.25.

Blackstone Stock Performance

Blackstone stock opened at $159.83 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $118.03 billion, a P/E ratio of 45.67, a PEG ratio of 1.15 and a beta of 1.75. The stock has a fifty day moving average price of $151.41 and a 200 day moving average price of $161.43. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $190.09.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.29. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The company’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period last year, the company earned $1.02 earnings per share. Equities research analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

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

Blackstone 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.