Key Points
- Holdings Iv Gp Mana Blackstone bought 385,208 shares of BX on Nov 21 at an average $25.96 per share (~$10.0M), raising its stake to 16,332,883 shares (a 2.42% increase) valued at about $424M.
- The same insider previously purchased 9.31 million shares on Oct 21 at ~$25.77 per share for roughly $240M, signaling significant continued accumulation.
- Blackstone raised its quarterly dividend to $1.29 per share (from $1.03), implying a $5.16 annualized payout and ~3.6% yield, though the payout ratio is high at about 147%.
Blackstone Inc. (NYSE:BX - Get Free Report) major shareholder Holdings Iv Gp Mana Blackstone acquired 385,208 shares of Blackstone stock in a transaction on Friday, November 21st. The shares were bought at an average cost of $25.96 per share, with a total value of $9,999,999.68. Following the completion of the purchase, the insider owned 16,332,883 shares in the company, valued at $424,001,642.68. The trade was a 2.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Holdings Iv Gp Mana Blackstone also recently made the following trade(s):
- On Tuesday, October 21st, Holdings Iv Gp Mana Blackstone bought 9,313,155 shares of Blackstone stock. The stock was purchased at an average cost of $25.77 per share, for a total transaction of $240,000,004.35.
Blackstone Stock Performance
Shares of BX opened at $141.61 on Tuesday. The company has a 50-day simple moving average of $158.38 and a 200-day simple moving average of $158.09. Blackstone Inc. has a 52-week low of $115.66 and a 52-week high of $200.96. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $104.57 billion, a PE ratio of 40.46, a P/E/G ratio of 1.18 and a beta of 1.76.
Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. The firm had revenue of $2.49 billion for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. Equities research analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.
Blackstone Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were paid a dividend of $1.29 per share. This is an increase from Blackstone's previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, November 3rd. Blackstone's payout ratio is presently 147.43%.
Analysts Set New Price Targets
A number of equities analysts have weighed in on BX shares. Keefe, Bruyette & Woods decreased their price objective on shares of Blackstone from $180.00 to $171.00 and set a "market perform" rating for the company in a research report on Monday, October 13th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Blackstone from $166.00 to $164.00 and set a "buy" rating for the company in a report on Friday, November 14th. Bank of America reduced their price objective on shares of Blackstone from $200.00 to $199.00 in a research report on Friday, October 3rd. TD Cowen reduced their target price on Blackstone from $208.00 to $205.00 and set a "buy" rating for the company in a report on Friday, October 24th. Finally, The Goldman Sachs Group lifted their price objective on shares of Blackstone from $173.00 to $174.00 and gave the stock a "neutral" rating in a research report on Friday, October 24th. Eleven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Blackstone presently has an average rating of "Moderate Buy" and an average target price of $179.00.
View Our Latest Analysis on Blackstone
Institutional Investors Weigh In On Blackstone
Several hedge funds and other institutional investors have recently made changes to their positions in BX. Brighton Jones LLC grew its position 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 purchasing an additional 2,035 shares during the last quarter. AE Wealth Management LLC increased its position in shares of Blackstone by 8.0% during the 1st quarter. AE Wealth Management LLC now owns 6,842 shares of the asset manager's stock worth $956,000 after purchasing an additional 508 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in Blackstone by 9.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 42,760 shares of the asset manager's stock valued at $5,977,000 after purchasing an additional 3,654 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Blackstone by 4.9% in the first quarter. Assetmark Inc. now owns 68,658 shares of the asset manager's stock valued at $9,597,000 after buying an additional 3,186 shares during the last quarter. Finally, Mediolanum International Funds Ltd lifted its position in shares of Blackstone by 15.2% during the first quarter. Mediolanum International Funds Ltd now owns 28,445 shares of the asset manager's stock worth $3,929,000 after purchasing an additional 3,749 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.
Blackstone Company Profile
(
Get Free Report)
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.
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