Blackstone Inc. (NYSE:BX - Get Free Report) major shareholder Private Multi-Asset Blackstone acquired 573,614 shares of the company's stock in a transaction on Thursday, July 23rd. The stock was purchased at an average cost of $26.15 per share, for a total transaction of $15,000,006.10. Following the completion of the transaction, the insider owned 8,455,758 shares in the company, valued at approximately $221,118,071.70. The trade was a 7.28% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Private Multi-Asset Blackstone also recently made the following trade(s):
- On Tuesday, June 23rd, Private Multi-Asset Blackstone bought 765,111 shares of Blackstone stock. The shares were purchased at an average price of $26.14 per share, with a total value of $20,000,001.54.
Blackstone Stock Up 1.0%
Blackstone stock opened at $133.97 on Wednesday. The stock's fifty day moving average is $121.03 and its two-hundred day moving average is $124.23. The stock has a market cap of $99.53 billion, a PE ratio of 29.97, a P/E/G ratio of 1.48 and a beta of 1.58. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.72 and a quick ratio of 0.76.
Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.18. The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The business's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.98 EPS. On average, sell-side analysts expect that Blackstone Inc. will post 5.97 EPS for the current fiscal year.
Blackstone Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, August 3rd will be issued a dividend of $1.29 per share. The ex-dividend date of this dividend is Monday, August 3rd. This is an increase from Blackstone's previous quarterly dividend of $1.16. This represents a $5.16 dividend on an annualized basis and a yield of 3.9%. Blackstone's dividend payout ratio is 103.80%.
Hedge Funds Weigh In On Blackstone
Institutional investors have recently bought and sold shares of the company. Redwood Financial Network Corp boosted its holdings in Blackstone by 1.8% in the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager's stock valued at $537,000 after acquiring an additional 65 shares during the last quarter. Benchmark Financial Wealth Advisors LLC raised its holdings in shares of Blackstone by 0.9% in the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager's stock worth $1,194,000 after purchasing an additional 69 shares during the period. Parcion Private Wealth LLC grew its holdings in shares of Blackstone by 0.6% during the 4th quarter. Parcion Private Wealth LLC now owns 10,935 shares of the asset manager's stock worth $1,686,000 after purchasing an additional 70 shares during the period. Trivium Point Advisory LLC increased its position in Blackstone by 2.6% during the 4th quarter. Trivium Point Advisory LLC now owns 2,713 shares of the asset manager's stock worth $418,000 after purchasing an additional 70 shares in the last quarter. Finally, Zacks Investment Management lifted its position in Blackstone by 2.1% during the third quarter. Zacks Investment Management now owns 3,453 shares of the asset manager's stock valued at $590,000 after buying an additional 71 shares in the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on BX shares. Royal Bank Of Canada increased their target price on shares of Blackstone from $161.00 to $169.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. Rothschild & Co Redburn dropped their price objective on Blackstone from $134.00 to $130.00 and set a "neutral" rating on the stock in a report on Tuesday, June 9th. Weiss Ratings upgraded Blackstone from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. JPMorgan Chase & Co. lowered their target price on shares of Blackstone from $136.00 to $132.00 and set a "neutral" rating on the stock in a research report on Thursday, July 16th. Finally, Citizens Jmp decreased their price target on shares of Blackstone from $190.00 to $165.00 and set a "market outperform" rating for the company in a research note on Thursday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $147.76.
Check Out Our Latest Research Report on Blackstone
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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