Argent Capital Management LLC Has $81.34 Million Stock Position in Blackstone Inc. $BX

Argent Capital Management LLC lowered its position in shares of Blackstone Inc. (NYSE:BX) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 527,678 shares of the asset manager’s stock after selling 20,508 shares during the quarter. Blackstone accounts for about 2.3% of Argent Capital Management LLC’s holdings, making the stock its 13th largest position. Argent Capital Management LLC owned approximately 0.07% of Blackstone worth $81,336,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after acquiring an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Blackstone by 9.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock valued at $310,000 after purchasing an additional 177 shares during the period. United Bank lifted its position in shares of Blackstone by 14.7% in the second quarter. United Bank now owns 13,528 shares of the asset manager’s stock worth $2,024,000 after purchasing an additional 1,729 shares in the last quarter. Intech Investment Management LLC grew its position in Blackstone by 69.2% during the second quarter. Intech Investment Management LLC now owns 11,160 shares of the asset manager’s stock valued at $1,669,000 after purchasing an additional 4,564 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its stake in Blackstone by 24.0% in the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,208 shares of the asset manager’s stock valued at $330,000 after buying an additional 427 shares during the period. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Stock Down 0.1%

Shares of Blackstone stock opened at $113.46 on Friday. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average price of $131.10 and a two-hundred day moving average price of $148.91. The stock has a market capitalization of $84.21 billion, a P/E ratio of 29.24, a PEG ratio of 0.90 and a beta of 1.79.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.21. The business had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. Blackstone’s revenue for the quarter was up 41.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.69 earnings per share. Equities analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were paid a $1.49 dividend. The ex-dividend date was Monday, February 9th. This is a boost from Blackstone’s previous quarterly dividend of $1.29. This represents a $5.96 dividend on an annualized basis and a dividend yield of 5.3%. Blackstone’s dividend payout ratio is presently 153.61%.

Insider Buying and Selling

In other news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $10.00, for a total value of $15,961,420.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the transaction, the insider directly owned 25,832 shares in the company, valued at $90,670.32. This trade represents a 99.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on BX. HSBC lowered their price target on shares of Blackstone from $178.00 to $174.00 and set a “hold” rating on the stock in a report on Wednesday, January 28th. Piper Sandler reduced their price objective on Blackstone from $168.00 to $158.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. BNP Paribas Exane dropped their target price on Blackstone from $167.00 to $156.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Citigroup reiterated a “market outperform” rating on shares of Blackstone in a report on Friday, January 30th. Finally, UBS Group dropped their price objective on Blackstone from $171.00 to $137.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Eleven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Blackstone has an average rating of “Moderate Buy” and a consensus price target of $165.86.

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.