Saxon Interests Inc. Buys Shares of 1,863 Blackstone Inc. (NYSE:BX)

Saxon Interests Inc. bought a new stake in shares of Blackstone Inc. (NYSE:BX) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 1,863 shares of the asset manager’s stock, valued at approximately $244,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirador Capital Partners LP boosted its stake in shares of Blackstone by 2.2% during the 3rd quarter. Mirador Capital Partners LP now owns 87,646 shares of the asset manager’s stock worth $9,390,000 after purchasing an additional 1,862 shares during the last quarter. WASHINGTON TRUST Co boosted its stake in shares of Blackstone by 7.0% during the 3rd quarter. WASHINGTON TRUST Co now owns 121,358 shares of the asset manager’s stock worth $13,002,000 after purchasing an additional 7,907 shares during the last quarter. Kampmann Melissa S. acquired a new stake in shares of Blackstone during the 3rd quarter worth about $2,314,000. The Manufacturers Life Insurance Company boosted its stake in shares of Blackstone by 1,722.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 504,441 shares of the asset manager’s stock worth $54,046,000 after purchasing an additional 476,768 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its stake in shares of Blackstone by 536.5% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 13,181 shares of the asset manager’s stock worth $1,726,000 after purchasing an additional 11,110 shares during the last quarter. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ruth Porat acquired 232 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of $127.08 per share, with a total value of $29,482.56. Following the acquisition, the director now owns 34,225 shares of the company’s stock, valued at $4,349,313. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 2,587,168 shares of company stock worth $37,816,476. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BX shares. The Goldman Sachs Group cut shares of Blackstone from a “buy” rating to a “neutral” rating and raised their price target for the stock from $115.00 to $128.00 in a research note on Wednesday, January 3rd. Wells Fargo & Company raised their target price on shares of Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. BMO Capital Markets raised their target price on shares of Blackstone from $95.00 to $101.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Citigroup cut shares of Blackstone from a “buy” rating to a “neutral” rating and raised their target price for the stock from $116.00 to $124.00 in a research report on Friday, January 19th. Finally, UBS Group raised their target price on shares of Blackstone from $134.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $119.53.

Blackstone Stock Up 0.4 %

Shares of BX traded up $0.49 during mid-day trading on Thursday, reaching $131.38. 3,132,485 shares of the stock traded hands, compared to its average volume of 3,809,886. The firm has a market cap of $93.89 billion, a price-to-earnings ratio of 71.79, a P/E/G ratio of 1.02 and a beta of 1.51. The stock has a fifty day simple moving average of $125.60 and a 200 day simple moving average of $116.00. Blackstone Inc. has a 12-month low of $79.29 and a 12-month high of $133.56. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.67.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $2.48 billion. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. During the same quarter in the previous year, the firm earned $1.07 earnings per share. Sell-side analysts expect that Blackstone Inc. will post 4.92 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Monday, February 5th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, February 2nd. This is a positive change from Blackstone’s previous quarterly dividend of $0.80. Blackstone’s payout ratio is 205.46%.

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.