Sierra Capital LLC Sells 10,714 Shares of Blackstone Inc. (NYSE:BX)

Sierra Capital LLC lowered its position in Blackstone Inc. (NYSE:BX) by 31.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,015 shares of the asset manager’s stock after selling 10,714 shares during the quarter. Sierra Capital LLC’s holdings in Blackstone were worth $3,968,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Glen Eagle Advisors LLC raised its position in Blackstone by 1.8% during the 3rd quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after purchasing an additional 59 shares during the last quarter. Avidian Wealth Enterprises LLC increased its stake in shares of Blackstone by 0.4% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock valued at $2,790,000 after buying an additional 59 shares during the period. Investmark Advisory Group LLC lifted its stake in shares of Blackstone by 2.4% in the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares during the period. Fidelis Capital Partners LLC increased its position in Blackstone by 2.7% during the 3rd quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after purchasing an additional 62 shares during the period. Finally, McIlrath & Eck LLC raised its holdings in Blackstone by 6.5% during the 3rd quarter. McIlrath & Eck LLC now owns 1,019 shares of the asset manager’s stock worth $156,000 after purchasing an additional 62 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Trading Down 0.7 %

NYSE BX opened at $157.27 on Tuesday. Blackstone Inc. has a one year low of $115.82 and a one year high of $200.96. The business’s fifty day moving average is $172.96 and its 200-day moving average is $165.93. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The stock has a market capitalization of $113.55 billion, a price-to-earnings ratio of 43.32, a PEG ratio of 1.07 and a beta of 1.53.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS 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%. Equities research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Monday, February 10th were paid a dividend of $1.44 per share. This is a boost from Blackstone’s previous quarterly dividend of $0.86. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio is presently 158.68%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BX. JPMorgan Chase & Co. increased their price target on Blackstone from $149.00 to $154.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods raised their target price on Blackstone from $174.00 to $177.00 and gave the stock a “market perform” rating in a research note on Friday, January 31st. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and increased their price target for the stock from $149.00 to $230.00 in a report on Monday, December 9th. Wells Fargo & Company dropped their target price on shares of Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. Finally, StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $172.38.

Insider Activity at Blackstone

In related news, Director Ruth Porat purchased 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by company 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.