Sage Rhino Capital LLC Buys 105 Shares of Blackstone Inc. (NYSE:BX)

Sage Rhino Capital LLC lifted its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,891 shares of the asset manager’s stock after purchasing an additional 105 shares during the period. Sage Rhino Capital LLC’s holdings in Blackstone were worth $902,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Asset Management One Co. Ltd. lifted its holdings in Blackstone by 5.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 303,069 shares of the asset manager’s stock valued at $40,348,000 after buying an additional 15,875 shares during the period. Chicago Capital LLC bought a new stake in shares of Blackstone during the fourth quarter worth about $3,734,000. Kampmann Melissa S. bought a new stake in shares of Blackstone during the third quarter worth about $2,314,000. The Manufacturers Life Insurance Company increased its position in shares of Blackstone by 1,722.9% during the third quarter. The Manufacturers Life Insurance Company now owns 504,441 shares of the asset manager’s stock worth $54,046,000 after acquiring an additional 476,768 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC increased its position in shares of Blackstone by 536.5% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 13,181 shares of the asset manager’s stock worth $1,726,000 after acquiring an additional 11,110 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the subject of a number of recent analyst reports. TheStreet downgraded shares of Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. BMO Capital Markets upped their price target on shares of Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Piper Sandler dropped their price target on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. TD Cowen dropped their price target on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research note on Friday, April 19th. Finally, Bank of America dropped their price target on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average price target of $123.65.

Insider Buying and Selling at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction that occurred 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 sale, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction that occurred 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 sale, the insider now directly owns 12,802 shares in the company, valued at $142,102.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the sale, the insider now owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,587,168 shares of company stock worth $37,816,476. 1.00% of the stock is owned by corporate insiders.

Blackstone Trading Down 3.3 %

Shares of NYSE:BX traded down $4.02 on Tuesday, hitting $116.60. The company had a trading volume of 4,328,759 shares, compared to its average volume of 3,677,235. The firm’s 50-day simple moving average is $125.82 and its two-hundred day simple moving average is $118.68. Blackstone Inc. has a 1 year low of $79.92 and a 1 year high of $133.56. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $83.33 billion, a price-to-earnings ratio of 42.62, a P/E/G ratio of 1.02 and a beta of 1.51.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period last year, the company posted $0.97 EPS. Blackstone’s revenue was up 166.9% on a year-over-year basis. Equities analysts anticipate that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Monday, April 29th will be paid a dividend of $0.83 per share. The ex-dividend date is Friday, April 26th. This represents a $3.32 dividend on an annualized basis and a yield of 2.85%. Blackstone’s dividend payout ratio is currently 117.31%.

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.