Blackstone (NYSE:BX) Major Shareholder Private Multi-Asset Blackstone Purchases 573,614 Shares of Stock

Blackstone Inc. (NYSE:BX) major shareholder Private Multi-Asset Blackstone bought 573,614 shares of Blackstone stock in a transaction dated Thursday, July 23rd. The stock was acquired at an average price of $26.15 per share, with a total value of $15,000,006.10. Following the completion of the transaction, the insider directly owned 8,455,758 shares of the company’s stock, valued at approximately $221,118,071.70. The trade was a 7.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Private Multi-Asset Blackstone also recently made the following trade(s):

• On Tuesday, June 23rd, Private Multi-Asset Blackstone acquired 765,111 shares of Blackstone stock. The shares were acquired at an average cost of $26.14 per share, with a total value of $20,000,001.54.

Blackstone Stock Up 1.0%

BX stock opened at $133.97 on Wednesday. The company has a market cap of $99.53 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 1.48 and a beta of 1.58. The firm has a 50-day moving average of $121.03 and a two-hundred day moving average of $124.23. Blackstone Inc. has a 12 month low of $101.73 and a 12 month high of $190.09. The company has a current ratio of 0.72, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63.

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, beating analysts’ consensus estimates of $1.34 by $0.18. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same period in the prior year, the business earned $0.98 earnings per share. The business’s revenue was up 35.9% compared to the same quarter last year. As a group, analysts forecast that Blackstone Inc. will post 5.97 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be given a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a dividend yield of 3.9%. 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 is presently 103.80%.

Analysts Set New Price Targets

A number of brokerages have commented on BX. Dbs Bank raised shares of Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. Oppenheimer lifted their price target on shares of Blackstone from $139.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday. 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. Deutsche Bank Aktiengesellschaft assumed coverage on Blackstone in a research report on Monday, June 8th. They issued a “buy” rating on the stock. Finally, HSBC reiterated a “hold” rating and set a $135.00 price target on shares of Blackstone in a report on Monday, July 20th. Thirteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, Blackstone currently has an average rating of “Moderate Buy” and an average price target of $147.76.

Institutional Trading of Blackstone

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BX. Trust Asset Management LLC lifted its stake in Blackstone by 3.4% during the second quarter. Trust Asset Management LLC now owns 8,297 shares of the asset manager’s stock worth $976,000 after purchasing an additional 273 shares in the last quarter. Tema ETFs LLC raised its holdings in shares of Blackstone by 6.9% in the 2nd quarter. Tema ETFs LLC now owns 14,855 shares of the asset manager’s stock valued at $1,748,000 after buying an additional 957 shares during the period. West Branch Capital LLC boosted its holdings in Blackstone by 26,600.0% during the 2nd quarter. West Branch Capital LLC now owns 267 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 266 shares during the period. KMG Fiduciary Partners LLC lifted its position in shares of Blackstone by 275.0% during the second quarter. KMG Fiduciary Partners LLC now owns 19,079 shares of the asset manager’s stock worth $2,245,000 after purchasing an additional 13,991 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. boosted its stake in shares of Blackstone by 6.9% in the second quarter. Redhawk Wealth Advisors Inc. now owns 2,758 shares of the asset manager’s stock valued at $325,000 after purchasing an additional 179 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

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.