Sage Mountain Advisors LLC Has $1.28 Million Position in Blackstone Inc. (NYSE:BX)

Sage Mountain Advisors LLC reduced its stake in Blackstone Inc. (NYSE:BX) by 1.6% in the 4th quarter, Holdings Channel reports. The firm owned 7,433 shares of the asset manager’s stock after selling 122 shares during the period. Sage Mountain Advisors LLC’s holdings in Blackstone were worth $1,282,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Independent Advisor Alliance lifted its holdings in shares of Blackstone by 6.2% during the fourth quarter. Independent Advisor Alliance now owns 66,418 shares of the asset manager’s stock worth $11,452,000 after buying an additional 3,878 shares during the last quarter. Marvin & Palmer Associates Inc. acquired a new position in shares of Blackstone during the fourth quarter worth approximately $7,016,000. Paragon Private Wealth Management LLC lifted its holdings in shares of Blackstone by 2.6% during the fourth quarter. Paragon Private Wealth Management LLC now owns 4,705 shares of the asset manager’s stock worth $811,000 after buying an additional 118 shares during the last quarter. Johnson Investment Counsel Inc. raised its stake in shares of Blackstone by 0.7% in the fourth quarter. Johnson Investment Counsel Inc. now owns 21,076 shares of the asset manager’s stock valued at $3,634,000 after purchasing an additional 144 shares in the last quarter. Finally, Gallagher Capital Advisors LLC acquired a new position in shares of Blackstone in the fourth quarter valued at $1,031,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Down 4.1 %

NYSE:BX opened at $139.24 on Tuesday. Blackstone Inc. has a 1-year low of $115.82 and a 1-year high of $200.96. The business’s 50-day moving average price is $168.67 and its two-hundred day moving average price is $167.26. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $101.56 billion, a price-to-earnings ratio of 38.36, a PEG ratio of 1.07 and a beta of 1.55.

Blackstone (NYSE:BX) last released its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating 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%. On average, equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Monday, February 10th were given a dividend of $1.44 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 4.14%. This is a positive change from Blackstone’s previous quarterly dividend of $0.86. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Analyst Ratings Changes

A number of brokerages recently commented on BX. Citigroup restated a “hold” rating on shares of Blackstone in a research note on Friday, February 7th. StockNews.com lowered Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. UBS Group restated a “neutral” rating on shares of Blackstone in a research note on Monday, March 3rd. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and upped their target price for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, Barclays reiterated an “equal weight” rating on shares of Blackstone in a research report on Friday, February 7th. Thirteen 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 presently has a consensus rating of “Hold” and an average price target of $172.38.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat purchased 301 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by 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.