Blackstone Inc. (NYSE:BX - Get Free Report) major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. The sale was disclosed in a document filed 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 sales and purchases with the SEC.
Tactical Opportunit Blackstone also recently made the following trade(s):
- On Thursday, December 4th, Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00.
Blackstone Trading Down 4.0%
Blackstone stock opened at $110.77 on Wednesday. Blackstone Inc. has a 52 week low of $105.09 and a 52 week high of $190.09. The stock has a market cap of $82.21 billion, a PE ratio of 28.55, a P/E/G ratio of 0.99 and a beta of 1.79. The stock has a 50-day moving average price of $142.24 and a 200 day moving average price of $153.60. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.61.
Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.21. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The business had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the firm posted $1.69 earnings per share. The company's quarterly revenue was up 41.4% compared to the same quarter last year. 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 Tuesday, February 17th. Stockholders of record on Monday, February 9th were issued a dividend of $1.49 per share. This represents a $5.96 annualized dividend and a dividend yield of 5.4%. This is a positive change from Blackstone's previous quarterly dividend of $1.29. The ex-dividend date was Monday, February 9th. Blackstone's payout ratio is 153.61%.
Blackstone News Summary
Here are the key news stories impacting Blackstone this week:
Analyst Ratings Changes
Several analysts have commented on the company. Evercore lowered their price target on Blackstone from $175.00 to $170.00 and set an "outperform" rating for the company in a report on Friday, January 30th. Jefferies Financial Group lowered their target price on shares of Blackstone from $185.00 to $161.00 and set a "buy" rating for the company in a report on Tuesday, February 10th. BNP Paribas Exane cut their price target on shares of Blackstone from $167.00 to $156.00 and set a "neutral" rating on the stock in a research note on Monday, January 12th. Barclays dropped their price objective on Blackstone from $164.00 to $126.00 and set an "equal weight" rating for the company in a report on Monday. Finally, The Goldman Sachs Group reduced their target price on Blackstone from $166.00 to $158.00 and set a "neutral" rating on the stock in a report on Friday, January 30th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.86.
Check Out Our Latest Research Report on BX
Institutional Trading of Blackstone
A number of institutional investors have recently added to or reduced their stakes in BX. Vanguard Group Inc. boosted its holdings in Blackstone by 2.2% in the second quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager's stock worth $10,394,670,000 after purchasing an additional 1,494,796 shares during the period. Whittier Trust Co. boosted its holdings in shares of Blackstone by 2.1% in the 3rd quarter. Whittier Trust Co. now owns 346,318 shares of the asset manager's stock valued at $58,337,000 after buying an additional 7,053 shares during the period. Close Asset Management Ltd grew its position in shares of Blackstone by 16,035.1% during 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 last quarter. Exchange Traded Concepts LLC lifted its holdings in Blackstone by 733.2% in the third quarter. Exchange Traded Concepts LLC now owns 13,715 shares of the asset manager's stock worth $2,343,000 after acquiring an additional 12,069 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC grew its holdings in shares of Blackstone by 259.8% during the second quarter. Longfellow Investment Management Co. LLC now owns 22,160 shares of the asset manager's stock valued at $3,315,000 after purchasing an additional 16,001 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.
Blackstone Company Profile
(
Get Free Report)
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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