Sandbox Financial Partners LLC Has $1.85 Million Holdings in Blackstone Inc. (NYSE:BX)

Sandbox Financial Partners LLC increased its stake in Blackstone Inc. (NYSE:BX) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,109 shares of the asset manager’s stock after acquiring an additional 229 shares during the quarter. Sandbox Financial Partners LLC’s holdings in Blackstone were worth $1,854,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Blackstone by 1.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after purchasing an additional 7,692 shares during the last quarter. Norden Group LLC raised its position in Blackstone by 2,072.0% in the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after buying an additional 34,872 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Blackstone by 10.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock worth $614,000 after acquiring an additional 459 shares during the last quarter. Secured Retirement Advisors LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at about $1,073,000. Finally, Global Assets Advisory LLC purchased a new stake in Blackstone in the 1st quarter valued at about $65,050,000. 70.00% of the stock is owned by institutional investors.

Blackstone Price Performance

Shares of BX traded down $2.33 during midday trading on Monday, reaching $149.59. The stock had a trading volume of 654,423 shares, compared to its average volume of 3,434,804. The company’s 50-day moving average is $142.63 and its 200 day moving average is $131.42. The company has a market capitalization of $106.90 billion, a price-to-earnings ratio of 52.90, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51. Blackstone Inc. has a 12-month low of $88.59 and a 12-month high of $161.25. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the business posted $0.93 earnings per share. The firm’s quarterly revenue was up 166.9% compared to the same quarter last year. On average, equities analysts predict that Blackstone Inc. will post 4.57 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.19%. Blackstone’s dividend payout ratio is currently 115.90%.

Analyst Ratings Changes

A number of brokerages recently commented on BX. Wells Fargo & Company began coverage on Blackstone in a research report on Thursday, September 12th. They set an “overweight” rating and a $163.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. The Goldman Sachs Group raised their target price on Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday. TD Cowen lifted their price objective on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, Barclays raised their target price on Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $132.24.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

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.