Key Points
- Major shareholder Bx Buzz Ml-1 Gp LLC sold 7,477,504 shares of Blackstone on March 17 at an average price of $3.51 (≈$26.25M), leaving it with 25,832 shares—a 99.66% reduction in ownership—according to an SEC filing.
- Blackstone beat quarterly EPS expectations ($1.75 vs. $1.54) with revenue up 41.4% to $4.36B and has increased its quarterly dividend to $1.49 (annualized $5.96, ~5.3% yield), although the dividend payout ratio is elevated (~153.6%).
Blackstone Inc. (NYSE:BX - Get Free Report) major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total value of $26,246,039.04. Following the completion of the sale, the insider directly owned 25,832 shares of the company's stock, valued at approximately $90,670.32. This represents a 99.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Blackstone Price Performance
Shares of NYSE BX opened at $113.46 on Friday. The company has a market capitalization of $84.21 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 0.90 and a beta of 1.79. The business has a 50 day simple moving average of $131.10 and a 200-day simple moving average of $148.91. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09.
Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share (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 company had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the firm posted $1.69 EPS. The company's revenue for the quarter was up 41.4% on a year-over-year basis. As a group, equities research analysts expect that Blackstone Inc. will post 5.87 earnings per share for the current year.
Blackstone Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were paid a $1.49 dividend. The ex-dividend date was Monday, February 9th. This is a positive change from Blackstone's previous quarterly dividend of $1.29. This represents a $5.96 dividend on an annualized basis and a yield of 5.3%. Blackstone's dividend payout ratio (DPR) is 153.61%.
Analysts Set New Price Targets
Several research firms have commented on BX. BNP Paribas Exane decreased their target price on shares of Blackstone from $167.00 to $156.00 and set a "neutral" rating for the company in a research report on Monday, January 12th. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $164.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday, December 17th. TD Cowen decreased their price target on Blackstone from $183.00 to $164.00 and set a "buy" rating for the company in a research note on Thursday, February 12th. Evercore reduced their price objective on shares of Blackstone from $175.00 to $170.00 and set an "outperform" rating for the company in a report on Friday, January 30th. Finally, HSBC lowered their price objective on shares of Blackstone from $178.00 to $174.00 and set a "hold" rating on the stock in a research note on Wednesday, January 28th. Eleven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, Blackstone has a consensus rating of "Moderate Buy" and an average price target of $165.86.
View Our Latest Analysis on BX
Institutional Investors Weigh In On Blackstone
Several hedge funds have recently made changes to their positions in the company. REAP Financial Group LLC purchased a new position in Blackstone during the 3rd quarter worth approximately $26,000. Redmont Wealth Advisors LLC acquired a new stake in Blackstone during the 3rd quarter worth about $30,000. Strive Asset Management LLC purchased a new stake in shares of Blackstone in the third quarter worth approximately $30,000. Traub Capital Management LLC purchased a new position in Blackstone during the second quarter valued at approximately $27,000. Finally, Family CFO Inc acquired a new stake in shares of Blackstone during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 70.00% of the company's stock.
About Blackstone
(
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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