Sanders Morris Harris LLC Has $14.35 Million Stock Holdings in Blackstone Inc. $BX

Sanders Morris Harris LLC lowered its stake in shares of Blackstone Inc. (NYSE:BX) by 8.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 121,948 shares of the asset manager’s stock after selling 10,996 shares during the quarter. Blackstone accounts for 8.3% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 4th biggest position. Sanders Morris Harris LLC’s holdings in Blackstone were worth $14,350,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Family CFO Inc purchased a new position in shares of Blackstone in the 4th quarter worth about $28,000. Ares Financial Consulting LLC bought a new stake in Blackstone in the 4th quarter worth approximately $28,000. Richardson Financial Services Inc. bought a new position in Blackstone during the fourth quarter valued at approximately $29,000. Strive Asset Management LLC purchased a new position in shares of Blackstone during the third quarter worth approximately $30,000. Finally, Palladiem LLC bought a new position in shares of Blackstone during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Insider Activity at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the sale, the insider owned 19,374 shares in the company, valued at $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Vikrant Sawhney sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $135.55, for a total value of $4,066,500.00. Following the completion of the transaction, the insider directly owned 869,669 shares in the company, valued at $117,883,632.95. This trade represents a 3.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders bought a total of 10,825,959 shares of company stock worth $224,789,900 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BX has been the topic of several analyst reports. Evercore reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Blackstone in a research note on Tuesday, April 21st. Argus increased their target price on shares of Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. TD Cowen increased their price objective on Blackstone from $133.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Piper Sandler raised their price target on Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Blackstone in a research report on Monday, June 8th. They issued a “buy” rating for the company. Thirteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $147.95.

Blackstone Stock Performance

Shares of BX stock opened at $136.03 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63. The company’s fifty day moving average price is $122.73 and its 200-day moving average price is $123.17. The stock has a market cap of $101.06 billion, a PE ratio of 30.43, a price-to-earnings-growth ratio of 1.52 and a beta of 1.56. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.18. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the previous year, the firm posted $0.98 EPS. The business’s revenue for the quarter was up 35.9% compared to the same quarter last year. On average, equities analysts expect that Blackstone Inc. will post 6 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be given a $1.29 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.8%. This is a boost from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s payout ratio is presently 115.44%.

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.