Blackstone Inc. (NYSE:BX - Get Free Report) insider Vikrant Sawhney sold 30,014 shares of the firm's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the transaction, the insider directly owned 899,669 shares in the company, valued at $113,169,363.51. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.
Blackstone Price Performance
Shares of BX opened at $126.56 on Friday. The firm has a market capitalization of $93.93 billion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 1.37 and a beta of 1.74. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. Blackstone Inc. has a one year low of $101.73 and a one year high of $190.09. The stock's fifty day moving average is $115.95 and its 200-day moving average is $137.27.
Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company had revenue of $3.62 billion for the quarter, compared to analysts' expectations of $3.45 billion. During the same period last year, the firm earned $1.11 EPS. The firm's revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts anticipate that Blackstone Inc. will post 5.91 EPS for the current year.
Blackstone Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Monday, May 4th will be issued a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, May 4th. Blackstone's payout ratio is presently 118.67%.
Hedge Funds Weigh In On Blackstone
Institutional investors have recently bought and sold shares of the stock. REAP Financial Group LLC purchased a new position in Blackstone in the 3rd quarter worth about $26,000. Redmont Wealth Advisors LLC purchased a new position in Blackstone in the 3rd quarter worth about $30,000. Strive Asset Management LLC acquired a new stake in Blackstone during the 3rd quarter worth about $30,000. Family CFO Inc acquired a new stake in Blackstone during the 4th quarter worth about $28,000. Finally, Ares Financial Consulting LLC acquired a new stake in Blackstone during the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 70.00% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently issued reports on BX. TD Cowen lowered their target price on Blackstone from $141.00 to $140.00 and set a "buy" rating on the stock in a report on Friday, April 24th. Evercore reaffirmed an "outperform" rating and set a $150.00 target price on shares of Blackstone in a report on Tuesday, April 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Blackstone in a report on Monday, April 20th. UBS Group lowered their target price on Blackstone from $171.00 to $137.00 and set a "neutral" rating on the stock in a report on Friday, February 20th. Finally, Rothschild & Co Redburn lowered their target price on Blackstone from $138.00 to $134.00 and set a "neutral" rating on the stock in a report on Friday, April 24th. Eleven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $150.95.
Check Out Our Latest Stock Report on Blackstone
More Blackstone News
Here are the key news stories impacting Blackstone this week:
- Positive Sentiment: Sources say Apollo, Blackstone and KKR are competing to buy Shell’s stake in the massive LNG Canada project — a potential strategic investment for Blackstone that could add scale to its energy/private assets and revenue potential if a deal is reached. Exclusive: Apollo, Blackstone and KKR vie for Shell stake in LNG Canada, sources say
- Positive Sentiment: Dividend coverage highlights an upcoming payout (Simply Wall St/Yahoo piece), which can support investor sentiment for BX by signaling cash return and income potential for shareholders. Blackstone Inc. (NYSE:BX) Pays A US$1.16 Dividend In Just Two Days
- Neutral Sentiment: Analyst-focused coverage of Blackstone’s Q1 earnings call (MSN roundup of top analyst questions) may affect near-term guidance detail and investor expectations but is more informational unless new guidance or revisions emerge. Blackstone’s Q1 earnings call: Our top 5 analyst questions
- Negative Sentiment: Insider Vikrant Sawhney sold 30,014 BX shares on May 1 at about $125.79 (≈$3.78M), reducing his stake by ~3.23% — a large, disclosed sale that can be perceived negatively by investors searching for insider conviction. SEC filing: Insider sale SEC filing
- Negative Sentiment: Zacks Research moved BX to a Zacks Rank #5 (Strong Sell), a notable downgrade that can pressure sentiment and trigger short-term selling by momentum/quant strategies. Coverage referenced by Zacks/TickerReport and media roundups. Zacks.com Tickerreport: Zacks downgrade
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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