Sentinel Dome Partners LLC Makes New $5.95 Million Investment in Blackstone Inc. $BX

Sentinel Dome Partners LLC bought a new position in Blackstone Inc. (NYSE:BX) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 38,600 shares of the asset manager’s stock, valued at approximately $5,950,000. Blackstone comprises approximately 4.0% of Sentinel Dome Partners LLC’s portfolio, making the stock its 5th biggest position.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Blackstone in the 4th quarter valued at about $1,275,747,000. Capital Research Global Investors lifted its holdings in Blackstone by 99.2% in the fourth quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager’s stock valued at $983,690,000 after acquiring an additional 3,178,133 shares during the last quarter. Amundi raised its position in Blackstone by 85.6% in the fourth quarter. Amundi now owns 2,709,345 shares of the asset manager’s stock valued at $417,620,000 after purchasing an additional 1,249,269 shares during the period. Close Asset Management Ltd raised its holdings in Blackstone by 16,035.1% in the 3rd quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock valued at $194,746,000 after buying an additional 1,133,197 shares during the period. Finally, Focus Partners Wealth increased its position in shares of Blackstone by 476.1% during the fourth quarter. Focus Partners Wealth now owns 1,324,168 shares of the asset manager’s stock valued at $204,193,000 after acquiring an additional 1,094,307 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

Blackstone Stock Down 0.0%

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

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

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio (DPR) is 118.67%.

Insiders Place Their Bets

In other Blackstone news, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the transaction, the insider directly owned 899,669 shares in the company, valued at $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was 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 of the company’s stock, valued at $73,233.72. This represents a 99.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders bought 9,487,234 shares of company stock valued at $189,789,892. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BX. Royal Bank Of Canada began coverage on shares of Blackstone in a research report on Monday, June 8th. They set an “outperform” rating for the company. Weiss Ratings lowered Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th. Argus decreased their target price on Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a research note on Tuesday, April 28th. Piper Sandler lifted their target price on Blackstone from $122.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Finally, TD Cowen reduced their price target on shares of Blackstone from $140.00 to $133.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Thirteen research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, Blackstone currently has an average rating of “Moderate Buy” and an average price target of $150.86.

About Blackstone

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.