Blackstone (NYSE:BX) Major Shareholder Buys $15,000,006.10 in Stock

Blackstone Inc. (NYSE:BX) major shareholder Private Multi-Asset Blackstone acquired 573,614 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The stock was bought at an average cost of $26.15 per share, with a total value of $15,000,006.10. Following the completion of the transaction, the insider directly owned 8,455,758 shares in the company, valued at $221,118,071.70. The trade was a 7.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 stock was purchased at an average price of $26.14 per share, with a total value of $20,000,001.54.

Blackstone Stock Performance

Shares of Blackstone stock traded down $0.37 on Tuesday, reaching $132.23. 1,836,935 shares of the stock were exchanged, compared to its average volume of 6,708,561. 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. The firm has a market capitalization of $98.23 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 1.41 and a beta of 1.58. The business has a 50 day moving average price of $120.64 and a two-hundred day moving average price of $124.36.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, beating the consensus estimate of $1.34 by $0.18. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the previous year, the business posted $0.98 EPS. The business’s quarterly revenue was up 35.9% compared to the same quarter last year. Analysts anticipate that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be issued a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 3.9%. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, August 3rd. Blackstone’s dividend payout ratio is 103.80%.

Analyst Upgrades and Downgrades

BX has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Blackstone in a research report on Monday, June 8th. They set a “buy” rating on the stock. Evercore restated an “outperform” rating and issued a $150.00 price objective on shares of Blackstone in a research report on Tuesday, April 21st. The Goldman Sachs Group increased their target price on Blackstone from $114.00 to $127.00 and gave the company a “neutral” rating in a research report on Friday. Rothschild & Co Redburn cut their price target on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, June 9th. Finally, Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Thirteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Blackstone currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.76.

Institutional Investors Weigh In On Blackstone

Large investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC raised its position in Blackstone by 9.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 100,951 shares of the asset manager’s stock worth $15,561,000 after acquiring an additional 8,321 shares during the period. Greenup Street Wealth Management LLC increased its holdings in shares of Blackstone by 1,034.3% in the fourth quarter. Greenup Street Wealth Management LLC now owns 13,940 shares of the asset manager’s stock valued at $2,149,000 after purchasing an additional 12,711 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Blackstone by 8.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 249,009 shares of the asset manager’s stock worth $39,543,000 after buying an additional 19,603 shares during the last quarter. Benson Investment Management Company Inc. purchased a new position in shares of Blackstone during the 4th quarter worth $5,856,000. Finally, Vanguard Group Inc. increased its position in Blackstone by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock worth $11,046,859,000 after purchasing an additional 840,258 shares during the last quarter. Hedge funds and other institutional investors 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.