50,991 Shares in Blackstone Inc. $BX Bought by Vise Technologies Inc.

Vise Technologies Inc. bought a new position in shares of Blackstone Inc. (NYSE:BX) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 50,991 shares of the asset manager’s stock, valued at approximately $6,000,000.

A number of other large investors have also recently modified their holdings of BX. Strive Asset Management LLC purchased a new position in shares of Blackstone during the third quarter worth about $30,000. Ares Financial Consulting LLC bought a new stake in Blackstone during the fourth quarter valued at approximately $28,000. Kelleher Financial Advisors purchased a new position in Blackstone in the 3rd quarter worth approximately $34,000. Palladiem LLC bought a new position in shares of Blackstone in the 4th quarter worth $31,000. Finally, Entrust Financial LLC bought a new stake in shares of Blackstone during the 4th quarter worth $32,000. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

BX has been the topic of a number of research analyst reports. Argus increased their target price on Blackstone from $146.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Piper Sandler upped their price objective on Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. BNP Paribas Exane decreased their price objective on Blackstone from $126.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Dbs Bank raised Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. Finally, Rothschild & Co Redburn cut their price objective on shares of Blackstone from $134.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.95.

Insider Buying and Selling

In other news, insider Vikrant Sawhney sold 30,000 shares of the stock in a transaction on 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 sale, the insider directly owned 869,669 shares of the company’s stock, valued at approximately $117,883,632.95. This represents a 3.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John G. Finley sold 45,000 shares of Blackstone stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $147.11, for a total value of $6,619,950.00. Following the completion of the transaction, the insider directly owned 516,017 shares of the company’s stock, valued at approximately $75,911,260.87. This represents a 8.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have bought 1,339,180 shares of company stock worth $35,062,433 and have sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is currently owned by corporate insiders.

Blackstone Stock Performance

Shares of Blackstone stock opened at $141.50 on Friday. The business has a fifty day simple moving average of $128.40 and a two-hundred day simple moving average of $122.42. The firm has a market capitalization of $106.21 billion, a P/E ratio of 31.66, a P/E/G ratio of 1.61 and a beta of 1.56. 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.

Blackstone (NYSE:BX) last issued its quarterly earnings results 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. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same period last year, the business earned $0.98 EPS. Blackstone’s quarterly revenue was up 35.9% compared to the same quarter last year. On average, equities analysts forecast that Blackstone Inc. will post 6 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were issued a dividend of $1.29 per share. 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 115.44%.

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.