Blackstone (NYSE:BX) Major Shareholder Holdings Iv L.P. Blackstone Purchases 272,642 Shares of Stock

Blackstone Inc. (NYSE:BX) major shareholder Holdings Iv L.P. Blackstone acquired 272,642 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were purchased at an average cost of $26.14 per share, with a total value of $7,126,861.88. Following the transaction, the insider directly owned 8,704,419 shares of the company’s stock, valued at $227,533,512.66. This trade represents a 3.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Blackstone Price Performance

BX stock opened at $143.66 on Tuesday. The company’s 50-day moving average price is $129.20 and its two-hundred day moving average price is $122.50. The firm has a market cap of $107.83 billion, a P/E ratio of 32.14, a P/E/G ratio of 1.56 and a beta of 1.55. The company has a quick ratio of 0.72, a current 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 posted 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 business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same quarter last year, the business posted $0.98 EPS. The firm’s revenue for the quarter was up 35.9% on a year-over-year basis. On average, analysts anticipate that Blackstone Inc. will post 5.99 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared 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. This is an increase from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. Blackstone’s payout ratio is presently 115.44%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Citizens Jmp decreased their target price on Blackstone from $190.00 to $165.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 9th. Keefe, Bruyette & Woods upgraded shares of Blackstone to a “hold” rating in a research note on Monday, July 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Blackstone in a research report on Monday, June 8th. They set a “buy” rating for the company. Royal Bank Of Canada raised their target price on shares of Blackstone from $161.00 to $169.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Blackstone from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 24th. Thirteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.95.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Blackstone by 9.0% in the 4th 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 last quarter. Matrix Private Capital Group LLC bought a new stake in Blackstone during the 1st quarter worth approximately $1,340,000. Vanguard Group Inc. lifted its holdings in shares of Blackstone by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock valued at $11,046,859,000 after purchasing an additional 840,258 shares in the last quarter. Marble Wealth LLC purchased a new position in shares of Blackstone during the fourth quarter valued at approximately $7,303,000. Finally, Bank of Nova Scotia raised its position in Blackstone by 92.2% in the 1st quarter. Bank of Nova Scotia now owns 807,184 shares of the asset manager’s stock valued at $92,817,000 after buying an additional 387,109 shares during the last quarter. 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.