Blackstone (NYSE:BX) Insider Sells $6,619,950.00 in Stock

Blackstone Inc. (NYSE:BX) insider John Finley sold 45,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $147.11, for a total value of $6,619,950.00. Following the sale, the insider directly owned 516,017 shares of the company’s stock, valued at $75,911,260.87. This represents a 8.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Blackstone Stock Down 3.6%

BX stock opened at $143.94 on Friday. The business’s 50-day moving average price is $126.51 and its 200-day moving average price is $122.70. The stock has a market cap of $108.04 billion, a P/E ratio of 32.20, a PEG ratio of 1.66 and a beta of 1.56. Blackstone Inc. has a twelve month low of $101.73 and a twelve month 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.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating 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%. The company’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. On average, equities research analysts forecast that Blackstone Inc. will post 6 EPS for the current year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given 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 annualized dividend and a dividend yield of 3.6%. Blackstone’s dividend payout ratio (DPR) is presently 115.44%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BX. Brighton Jones LLC lifted its holdings in Blackstone by 34.6% during the fourth quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after buying an additional 2,035 shares during the period. Sivia Capital Partners LLC boosted its position in shares of Blackstone by 9.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock worth $310,000 after purchasing an additional 177 shares in the last quarter. United Bank lifted its stake in shares of Blackstone by 14.7% during the second quarter. United Bank now owns 13,528 shares of the asset manager’s stock worth $2,024,000 after buying an additional 1,729 shares during the period. Nebula Research & Development LLC purchased a new stake in shares of Blackstone during the second quarter valued at $1,124,000. Finally, Sei Investments Co. raised 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 acquiring an additional 8,655 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. HSBC reiterated a “hold” rating and issued a $135.00 price target on shares of Blackstone in a report on Monday, July 20th. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Blackstone in a report on Monday, June 8th. They issued a “buy” rating for the company. Rothschild & Co Redburn reduced their target price on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, June 9th. Finally, Evercore reiterated an “outperform” rating and issued a $150.00 price target on shares of Blackstone in a research report on Tuesday, April 21st. Thirteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $147.95.

Blackstone Company Profile

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.