Key Points
- Holdings Iv Gp Mana Blackstone bought 384,468 shares of Blackstone on Dec. 19 at an average of $26.01 per share for $10,000,012.68, raising its stake to 16,525,117 shares (a 2.38% increase) valued at about $429.8M.
- The Dec. 19 purchase continues a pattern of recent accumulation, following a ~385,208-share buy on Nov. 21 (~$10M) and a 9,313,155-share acquisition on Oct. 21 (~$240M), indicating significant insider buying of BX stock.
- Separately, Blackstone increased its quarterly dividend to $1.29 (a $5.16 annualized payout and ~3.3% yield), though the payout ratio is elevated at approximately 147.4%.
Blackstone Inc. (NYSE:BX - Get Free Report) major shareholder Holdings Iv Gp Mana Blackstone acquired 384,468 shares of the firm's stock in a transaction dated Friday, December 19th. The shares were purchased at an average cost of $26.01 per share, with a total value of $10,000,012.68. Following the completion of the transaction, the insider owned 16,525,117 shares in the company, valued at approximately $429,818,293.17. The trade was a 2.38% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Holdings Iv Gp Mana Blackstone also recently made the following trade(s):
- On Friday, November 21st, Holdings Iv Gp Mana Blackstone purchased 385,208 shares of Blackstone stock. The stock was acquired at an average price of $25.96 per share, for a total transaction of $9,999,999.68.
- On Tuesday, October 21st, Holdings Iv Gp Mana Blackstone acquired 9,313,155 shares of Blackstone stock. The shares were acquired at an average cost of $25.77 per share, with a total value of $240,000,004.35.
Blackstone Price Performance
Shares of NYSE BX opened at $155.80 on Tuesday. The stock's 50-day simple moving average is $149.42 and its 200-day simple moving average is $159.42. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $115.05 billion, a PE ratio of 44.52, a price-to-earnings-growth ratio of 1.29 and a beta of 1.76. Blackstone Inc. has a fifty-two week low of $115.66 and a fifty-two week high of $190.09.
Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The company had revenue of $2.49 billion for the quarter. As a group, equities research analysts forecast that Blackstone Inc. will post 5.87 EPS for the current fiscal year.
Blackstone Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Monday, November 3rd were paid a $1.29 dividend. This is a boost from Blackstone's previous quarterly dividend of $1.03. This represents a $5.16 annualized dividend and a yield of 3.3%. The ex-dividend date was Monday, November 3rd. Blackstone's payout ratio is currently 147.43%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the business. REAP Financial Group LLC purchased a new stake in Blackstone during the third quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Blackstone during the 3rd quarter worth about $30,000. Strive Asset Management LLC acquired a new position in shares of Blackstone in the third quarter valued at approximately $30,000. Traub Capital Management LLC acquired a new stake in Blackstone during the second quarter worth approximately $27,000. Finally, 1248 Management LLC acquired a new position in Blackstone in the first quarter valued at $25,000. Hedge funds and other institutional investors own 70.00% of the company's stock.
Analyst Upgrades and Downgrades
BX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on Blackstone from $177.00 to $176.00 and set a "neutral" rating for the company in a research report on Friday, October 24th. UBS Group began coverage on Blackstone in a report on Thursday, December 11th. They issued a "neutral" rating and a $175.00 price objective for the company. Morgan Stanley upped their target price on shares of Blackstone from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Tuesday, October 21st. The Goldman Sachs Group boosted their price target on Blackstone from $173.00 to $174.00 and gave the company a "neutral" rating in a research report on Friday, October 24th. Finally, Keefe, Bruyette & Woods lowered their target price on Blackstone from $180.00 to $171.00 and set a "market perform" rating on the stock in a research note on Monday, October 13th. Ten investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $179.95.
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About Blackstone
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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.
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