Blackstone (NYSE:BX) Insider Vikrant Sawhney Sells 30,000 Shares

Blackstone Inc. (NYSE:BX) insider Vikrant Sawhney sold 30,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $135.55, for a total value of $4,066,500.00. Following the transaction, the insider directly owned 869,669 shares of the company’s stock, valued at $117,883,632.95. This represents a 3.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Blackstone Stock Performance

NYSE BX traded down $1.17 during trading on Wednesday, hitting $136.03. The company’s stock had a trading volume of 3,661,589 shares, compared to its average volume of 6,683,627. Blackstone Inc. has a 52 week low of $101.73 and a 52 week high of $190.09. The company has a quick ratio of 0.76, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. The firm has a market cap of $101.06 billion, a P/E ratio of 30.43, a price-to-earnings-growth ratio of 1.49 and a beta of 1.56. The firm has a 50 day moving average price of $122.37 and a 200 day moving average price of $123.34.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 21.84% and a return on equity of 23.77%. Blackstone’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. Equities research analysts forecast that Blackstone Inc. will post 6 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be given a dividend of $1.29 per share. 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 dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, August 3rd. Blackstone’s dividend payout ratio (DPR) is currently 115.44%.

Wall Street Analyst Weigh In

Several research firms have commented on BX. Oppenheimer upped their price target on Blackstone from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, July 24th. TD Cowen boosted their price objective on Blackstone from $133.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Zacks Research raised Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Royal Bank Of Canada boosted their price target on shares of Blackstone from $161.00 to $169.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Argus raised their price objective on shares of Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.95.

Institutional Investors Weigh In On Blackstone

Several institutional investors and hedge funds have recently made changes to their positions in BX. BIP Wealth LLC bought a new position in Blackstone during the 2nd quarter valued at about $962,000. Next Capital Management LLC acquired a new position in shares of Blackstone in the 2nd quarter worth approximately $2,965,000. Everett Harris & Co. CA bought a new stake in Blackstone during the 2nd quarter worth approximately $289,000. Oppenheimer Asset Management Inc. acquired a new stake in Blackstone during the 2nd quarter valued at $2,483,000. Finally, Bryn Mawr Trust Advisors LLC acquired a new position in Blackstone in the second quarter worth $1,601,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

About Blackstone

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.