Blackstone Inc. (NYSE:BX – Get Rating) Director Ruth Porat purchased 156 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was bought at an average cost of $92.38 per share, with a total value of $14,411.28. Following the acquisition, the director now owns 18,574 shares of the company’s stock, valued at approximately $1,715,866.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Blackstone Price Performance
NYSE BX traded up $0.77 during trading hours on Tuesday, reaching $92.95. The company’s stock had a trading volume of 2,987,237 shares, compared to its average volume of 4,597,014. The stock has a market cap of $65.22 billion, a PE ratio of 26.04, a PEG ratio of 2.18 and a beta of 1.44. Blackstone Inc. has a fifty-two week low of $79.54 and a fifty-two week high of $149.78. The company’s 50-day moving average is $90.26 and its two-hundred day moving average is $98.29. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.92 and a current ratio of 0.92.
Blackstone (NYSE:BX – Get Rating) last announced its quarterly earnings data on Thursday, October 20th. The asset manager reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.09. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.52 billion. Blackstone had a net margin of 20.58% and a return on equity of 20.04%. The company’s revenue was down 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.28 EPS. Analysts forecast that Blackstone Inc. will post 5.15 EPS for the current year.
Blackstone Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, November 7th. Stockholders of record on Monday, October 31st were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend was Friday, October 28th. Blackstone’s payout ratio is currently 101.70%.
Institutional Trading of Blackstone
A number of hedge funds have recently made changes to their positions in BX. Colony Group LLC grew its holdings in shares of Blackstone by 0.7% during the second quarter. Colony Group LLC now owns 14,333 shares of the asset manager’s stock worth $1,308,000 after buying an additional 95 shares in the last quarter. Bordeaux Wealth Advisors LLC lifted its holdings in Blackstone by 6.2% during the 1st quarter. Bordeaux Wealth Advisors LLC now owns 1,681 shares of the asset manager’s stock worth $214,000 after purchasing an additional 98 shares during the last quarter. SlateStone Wealth LLC raised its holdings in Blackstone by 3.1% in the 2nd quarter. SlateStone Wealth LLC now owns 3,300 shares of the asset manager’s stock valued at $301,000 after acquiring an additional 100 shares in the last quarter. Davis R M Inc. raised its holdings in Blackstone by 1.8% in the 2nd quarter. Davis R M Inc. now owns 5,769 shares of the asset manager’s stock valued at $526,000 after acquiring an additional 100 shares in the last quarter. Finally, Capital Analysts LLC increased its stake in shares of Blackstone by 11.7% in the 2nd quarter. Capital Analysts LLC now owns 966 shares of the asset manager’s stock valued at $88,000 after purchasing an additional 101 shares during the last quarter. Institutional investors and hedge funds own 61.87% of the company’s stock.
Analysts Set New Price Targets
BX has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price target on shares of Blackstone from $91.00 to $88.00 and set an “equal weight” rating for the company in a report on Friday, October 21st. Morgan Stanley dropped their target price on shares of Blackstone from $121.00 to $115.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 19th. The Goldman Sachs Group dropped their target price on shares of Blackstone from $117.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, October 3rd. Barclays decreased their price target on shares of Blackstone from $120.00 to $104.00 in a research note on Monday, October 10th. Finally, Bank of America reaffirmed a “buy” rating and set a $125.00 target price on shares of Blackstone in a research note on Thursday, October 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $116.43.
About Blackstone
Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.