Blackstone (NYSE:BX) Insider Sells $4,066,500.00 in Stock

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

Blackstone Price Performance

NYSE BX opened at $136.86 on Friday. The company has a 50 day moving average price of $123.47 and a two-hundred day moving average price of $123.05. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The stock has a market capitalization of $101.67 billion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 1.48 and a beta of 1.56. 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 released its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (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 analyst estimates of $3.42 billion. During the same quarter in the previous year, the business earned $0.98 EPS. Blackstone’s quarterly revenue was up 35.9% compared to the same quarter last year. As a group, equities analysts predict 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. Investors of record on Monday, August 3rd will be paid a $1.29 dividend. 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. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio (DPR) is 115.44%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Sanford C. Bernstein began coverage on Blackstone in a report on Monday, June 8th. They set an “outperform” rating on the stock. Weiss Ratings raised shares of Blackstone from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 24th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Blackstone in a report on Monday, June 8th. They issued a “buy” rating on the stock. Rothschild & Co Redburn lowered their price target on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. Finally, Argus boosted their price objective on Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.95.

Institutional Investors Weigh In On Blackstone

Institutional investors have recently added to or reduced their stakes in the company. Family CFO Inc acquired a new position in Blackstone in the 4th quarter valued at approximately $28,000. Ares Financial Consulting LLC acquired a new position in shares of Blackstone in the fourth quarter valued at $28,000. Richardson Financial Services Inc. bought a new position in Blackstone in the fourth quarter worth $29,000. Bell Investment Advisors Inc acquired a new stake in Blackstone during the second quarter worth $30,000. Finally, Strive Asset Management LLC acquired a new position in shares of Blackstone in the 3rd quarter valued at $30,000. 70.00% of the stock is owned by institutional investors and hedge funds.

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.