Blackstone Inc. (NYSE:BX - Get Free Report) major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the sale, the insider directly owned 2,161 shares of the company's stock, valued at $21,610. This represents a 99.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Blackstone Trading Down 0.7%
BX opened at $151.14 on Tuesday. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $194.00. The company has a market capitalization of $111.61 billion, a P/E ratio of 43.18, a PEG ratio of 1.21 and a beta of 1.76. The stock's fifty day moving average is $151.54 and its two-hundred day moving average is $158.34. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.60.
Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The business had revenue of $2.49 billion for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. Analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.
Blackstone Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were paid a $1.29 dividend. This represents a $5.16 annualized dividend and a yield of 3.4%. This is a positive change from Blackstone's previous quarterly dividend of $1.03. The ex-dividend date was Monday, November 3rd. Blackstone's payout ratio is 147.43%.
Institutional Trading of Blackstone
A number of hedge funds and other institutional investors have recently made changes to their positions in BX. Perigon Wealth Management LLC grew its holdings in Blackstone by 3.2% in the second quarter. Perigon Wealth Management LLC now owns 62,484 shares of the asset manager's stock valued at $9,346,000 after purchasing an additional 1,949 shares during the last quarter. Vanguard Group Inc. grew its stake in Blackstone by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager's stock valued at $10,394,670,000 after acquiring an additional 1,494,796 shares during the last quarter. Redmond Asset Management LLC raised its position in Blackstone by 21.2% during the second quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager's stock worth $2,810,000 after acquiring an additional 3,281 shares during the last quarter. Kera Capital Partners Inc. acquired a new stake in shares of Blackstone in the second quarter valued at approximately $273,000. Finally, Bourgeon Capital Management LLC purchased a new position in shares of Blackstone during the 2nd quarter worth approximately $423,000. Institutional investors and hedge funds own 70.00% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Blackstone in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their target price on Blackstone from $173.00 to $174.00 and gave the company a "neutral" rating in a research report on Friday, October 24th. BNP Paribas Exane dropped their price target on Blackstone from $178.00 to $167.00 and set a "neutral" rating on the stock in a research note on Friday, October 24th. BMO Capital Markets decreased their price objective on shares of Blackstone from $190.00 to $180.00 and set an "outperform" rating for the company in a research report on Monday, October 27th. Finally, Morgan Stanley boosted their target price on shares of Blackstone from $200.00 to $215.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 21st. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $179.00.
Read Our Latest Report on Blackstone
About Blackstone
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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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