Blackstone Inc. (NYSE:BX - Get Free Report) major shareholder Holdings Iv Gp Mana Blackstone purchased 2,868,069 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the completion of the purchase, the insider directly owned 18,628,295 shares of the company's stock, valued at approximately $487,129,914.25. This represents a 18.20% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Holdings Iv Gp Mana Blackstone also recently made the following trade(s):
- On Monday, February 23rd, Holdings Iv Gp Mana Blackstone acquired 1,146,789 shares of Blackstone stock. The shares were purchased at an average price of $26.16 per share, for a total transaction of $30,000,000.24.
Blackstone Price Performance
Shares of BX opened at $109.31 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.61. The firm has a market cap of $81.13 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 0.88 and a beta of 1.80. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The stock has a 50 day moving average of $129.21 and a 200-day moving average of $147.78.
Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.21. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The firm had revenue of $4.36 billion for the quarter, compared to analysts' expectations of $3.69 billion. The firm's revenue for the quarter was up 41.4% on a year-over-year basis. During the same period last year, the business posted $1.69 earnings per share. As a group, analysts forecast that Blackstone Inc. will post 5.87 EPS for the current year.
Blackstone Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were given a dividend of $1.49 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $5.96 dividend on an annualized basis and a dividend yield of 5.5%. This is a boost from Blackstone's previous quarterly dividend of $1.29. Blackstone's payout ratio is currently 153.61%.
Hedge Funds Weigh In On Blackstone
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. REAP Financial Group LLC purchased a new stake in shares of Blackstone during the third quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new stake in 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 worth about $30,000. Family CFO Inc purchased a new position in shares of Blackstone in the fourth quarter worth approximately $28,000. Finally, Ares Financial Consulting LLC purchased a new stake in shares of Blackstone in the 4th quarter valued at approximately $28,000. 70.00% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on Blackstone from $164.00 to $185.00 and gave the company a "buy" rating in a research note on Wednesday, December 17th. Royal Bank Of Canada assumed coverage on Blackstone in a research report on Monday, February 23rd. They set an "outperform" rating and a $179.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on Blackstone from $158.00 to $122.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 3rd. Jefferies Financial Group reduced their price target 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. Finally, Rothschild & Co Redburn dropped their price objective on shares of Blackstone from $165.00 to $158.00 and set a "neutral" rating on the stock in a report on Monday, February 2nd. Eleven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.86.
View Our Latest Stock Report on Blackstone
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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