Blackstone Inc. (NYSE:BX) Declares Quarterly Dividend of $1.12

Blackstone Inc. (NYSE:BX) declared a quarterly dividend on Tuesday, October 20th. Stockholders of record on Monday, November 2nd will be paid a dividend of $1.12 per share by the asset manager on Monday, November 9th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, November 2nd. This is a 13.2% decrease from Blackstone’s previous quarterly dividend of $1.29.

Blackstone has raised its dividend by an average of 0.2% per year over the last three years. Blackstone has a dividend payout ratio of 70.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Blackstone to earn $7.41 per share next year, which means the company should continue to be able to cover its $4.48 annual dividend with an expected future payout ratio of 60.5%.

Blackstone Stock Performance

Shares of NYSE:BX opened at $118.46 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.71 and a quick ratio of 0.72. Blackstone has a 1 year low of $101.73 and a 1 year high of $165.14. The firm has a market capitalization of $88.92 billion, a PE ratio of 26.32, a P/E/G ratio of 1.53 and a beta of 1.59. The business’s 50 day moving average price is $122.66 and its 200-day moving average price is $124.46.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, October 22nd. The asset manager reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.06. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.27 billion. Blackstone had a net margin of 22.11% and a return on equity of 23.16%. Blackstone’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 earnings per share. As a group, equities research analysts expect that Blackstone will post 5.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Blackstone news, CAO David Payne sold 9,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $145.23, for a total transaction of $1,379,685.00. Following the completion of the sale, the chief accounting officer directly owned 64,448 shares of the company’s stock, valued at $9,359,783.04. This represents a 12.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Baratta sold 100,000 shares of the stock in a transaction on Friday, September 18th. The stock was sold at an average price of $123.80, for a total value of $12,380,000.00. Following the sale, the director directly owned 771,599 shares of the company’s stock, valued at approximately $95,523,956.20. This represents a 11.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders acquired 464,792 shares of company stock valued at $12,205,945 and sold 4,077,276 shares valued at $37,573,644. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Blackstone

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Altus USA Inc. purchased a new stake in Blackstone during the 2nd quarter valued at approximately $26,000. Bell Investment Advisors Inc purchased a new position in shares of Blackstone in the 2nd quarter valued at approximately $30,000. Addison Advisors LLC acquired a new position in shares of Blackstone in the second quarter valued at approximately $30,000. NBH Bank purchased a new stake in shares of Blackstone during the second quarter worth approximately $30,000. Finally, West Branch Capital LLC lifted its holdings in shares of Blackstone by 26,600.0% during the second quarter. West Branch Capital LLC now owns 267 shares of the asset manager’s stock worth $31,000 after purchasing an additional 266 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Company Profile

Blackstone Inc (NYSE:BX) is a global alternative asset management firm that provides investment and advisory services to institutional investors, companies, and qualified individual investors. The company manages capital across private equity, real estate, credit and insurance, infrastructure, hedge fund solutions, secondaries, and growth-oriented investments.

Blackstone invests in and manages portfolios of businesses, properties, infrastructure assets, and credit instruments across a range of industries.