Sentinel Dome Partners LLC Purchases New Shares in Blackstone Inc. $BX

Sentinel Dome Partners LLC acquired a new position in shares of Blackstone Inc. (NYSE:BX) during the 4th quarter, Holdings Channel.com reports. The fund acquired 38,600 shares of the asset manager’s stock, valued at approximately $5,950,000. Blackstone accounts for about 4.0% of Sentinel Dome Partners LLC’s investment portfolio, making the stock its 5th largest position.

Several other institutional investors have also recently added to or reduced their stakes in BX. Family CFO Inc acquired a new stake in Blackstone during the 4th quarter worth approximately $28,000. Ares Financial Consulting LLC purchased a new stake in shares of Blackstone during the fourth quarter worth approximately $28,000. Richardson Financial Services Inc. acquired a new position in Blackstone in the 4th quarter valued at $29,000. Redmont Wealth Advisors LLC purchased a new position in Blackstone during the 3rd quarter worth $30,000. Finally, Strive Asset Management LLC purchased a new stake in shares of Blackstone in the third quarter valued at about $30,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE BX opened at $123.78 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The stock has a market cap of $91.95 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 1.34 and a beta of 1.59. The company’s 50-day moving average price is $121.11 and its 200 day moving average price is $130.35. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the prior year, the firm earned $1.11 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, research analysts forecast that Blackstone Inc. will post 5.9 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a $1.16 dividend. This represents a $4.64 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, May 4th. Blackstone’s dividend payout ratio is currently 118.67%.

Analyst Upgrades and Downgrades

BX has been the subject of a number of recent analyst reports. Rothschild & Co Redburn reduced their price objective on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, June 9th. Evercore reissued an “outperform” rating and issued a $150.00 price target on shares of Blackstone in a report on Tuesday, April 21st. Jefferies Financial Group increased their price objective on Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Morgan Stanley lowered their price target on shares of Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Blackstone in a report on Monday, June 8th. They set a “buy” rating on the stock. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.86.

Insider Buying and Selling

In related news, insider Vikrant Sawhney sold 30,014 shares of Blackstone stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the completion of the sale, the insider owned 899,669 shares in the company, valued at approximately $113,169,363.51. This trade represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $189,735,900.00. Following the completion of the purchase, the insider directly owned 9,111,800 shares in the company, valued at $182,236,000. The trade was a -2,529.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 9,487,234 shares of company stock worth $189,789,892 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Blackstone Company 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.