Blackstone Inc. (NYSE:BX - Get Free Report) major shareholder Holdings Iv L.P. Blackstone bought 272,642 shares of the company's stock in a transaction on Friday, August 21st. The shares were purchased at an average cost of $26.14 per share, for a total transaction of $7,126,861.88. Following the transaction, the insider owned 8,704,419 shares in the company, valued at approximately $227,533,512.66. This represents a 3.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, 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.
Blackstone Stock Performance
Shares of BX opened at $143.66 on Tuesday. The stock has a 50 day moving average of $129.20 and a 200 day moving average of $122.50. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.63. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09. The company has a market capitalization of $107.83 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 1.56 and a beta of 1.55.
Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.18. The firm had revenue of $5.04 billion during 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 company earned $0.98 EPS. As a group, sell-side analysts forecast that Blackstone Inc. will post 5.99 earnings per share for the current year.
Blackstone Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a $1.29 dividend. The ex-dividend date was Monday, August 3rd. This is a positive change from Blackstone's previous quarterly dividend of $1.16. This represents a $5.16 dividend on an annualized basis and a yield of 3.6%. Blackstone's dividend payout ratio is presently 115.44%.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. Argus increased their price objective on Blackstone from $146.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Oppenheimer increased their price target on Blackstone from $139.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. The Goldman Sachs Group lifted their price objective on Blackstone from $114.00 to $127.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Zacks Research raised shares of Blackstone from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Finally, Citizens Jmp reduced their target price 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 equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $147.95.
Check Out Our Latest Stock Analysis on BX
Institutional Trading of Blackstone
A number of institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its holdings in Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager's stock valued at $1,365,000 after buying an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Blackstone by 9.3% in the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager's stock worth $310,000 after buying an additional 177 shares in the last quarter. United Bank grew its stake in Blackstone by 14.7% during the second quarter. United Bank now owns 13,528 shares of the asset manager's stock valued at $2,024,000 after acquiring an additional 1,729 shares in the last quarter. Nebula Research & Development LLC bought a new stake in Blackstone during the 2nd quarter worth approximately $1,124,000. Finally, Sei Investments Co. lifted its stake in Blackstone by 1.9% in the 2nd quarter. Sei Investments Co. now owns 452,619 shares of the asset manager's stock worth $67,703,000 after purchasing an additional 8,655 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.
Blackstone Company Profile
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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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