Holdings L.P. Blackstone III Sells 6,692 Shares of Blackstone Inc. (NYSE:BX) Stock

Blackstone Inc. (NYSE:BXGet Rating) major shareholder Holdings L.P. Blackstone III sold 6,692 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $35.05, for a total value of $234,554.60. Following the completion of the sale, the insider now directly owns 1,070,493 shares in the company, valued at $37,520,779.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Holdings L.P. Blackstone III also recently made the following trade(s):

  • On Thursday, June 2nd, Holdings L.P. Blackstone III sold 9,550 shares of Blackstone stock. The stock was sold at an average price of $34.02, for a total value of $324,891.00.
  • On Tuesday, May 31st, Holdings L.P. Blackstone III sold 64,253 shares of Blackstone stock. The shares were sold at an average price of $33.21, for a total value of $2,133,842.13.
  • On Wednesday, May 25th, Holdings L.P. Blackstone III sold 4,236 shares of Blackstone stock. The stock was sold at an average price of $100.11, for a total value of $424,065.96.
  • On Thursday, May 5th, Holdings L.P. Blackstone III sold 8,700 shares of Blackstone stock. The shares were sold at an average price of $95.08, for a total value of $827,196.00.
  • On Wednesday, April 20th, Holdings L.P. Blackstone III sold 33,000 shares of Blackstone stock. The stock was sold at an average price of $31.96, for a total value of $1,054,680.00.
  • On Monday, April 18th, Holdings L.P. Blackstone III sold 200,000 shares of Blackstone stock. The shares were sold at an average price of $62.00, for a total value of $12,400,000.00.
  • On Thursday, April 14th, Holdings L.P. Blackstone III sold 6,965 shares of Blackstone stock. The stock was sold at an average price of $95.05, for a total value of $662,023.25.
  • On Tuesday, April 12th, Holdings L.P. Blackstone III sold 97,625 shares of Blackstone stock. The shares were sold at an average price of $62.54, for a total value of $6,105,467.50.
  • On Thursday, April 7th, Holdings L.P. Blackstone III sold 15,000 shares of Blackstone stock. The stock was sold at an average price of $31.24, for a total value of $468,600.00.
  • On Tuesday, April 5th, Holdings L.P. Blackstone III sold 18,429 shares of Blackstone stock. The stock was sold at an average price of $63.58, for a total value of $1,171,715.82.

Shares of Blackstone stock traded down $3.43 during trading on Wednesday, reaching $116.40. 3,617,746 shares of the stock were exchanged, compared to its average volume of 4,897,749. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.41. The stock’s fifty day moving average is $112.32 and its 200 day moving average is $121.20. The firm has a market cap of $81.56 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.26 and a beta of 1.37. Blackstone Inc. has a 1 year low of $93.59 and a 1 year high of $149.78.

Blackstone (NYSE:BXGet Rating) last released its earnings results on Thursday, April 21st. The asset manager reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.47. Blackstone had a net margin of 23.77% and a return on equity of 18.77%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the business earned $0.96 earnings per share. The business’s revenue was down 3.3% on a year-over-year basis. Equities analysts forecast that Blackstone Inc. will post 5.71 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, May 9th. Shareholders of record on Monday, May 2nd were given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date was Friday, April 29th. This is an increase from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s payout ratio is 71.93%.

A number of research firms have recently issued reports on BX. Zacks Investment Research raised Blackstone from a “sell” rating to a “hold” rating and set a $125.00 price objective for the company in a research report on Thursday, April 7th. Citigroup lowered their price objective on Blackstone from $132.50 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 12th. Jefferies Financial Group restated a “buy” rating and set a $155.00 price objective on shares of Blackstone in a research note on Wednesday, April 13th. Bank of America lifted their price target on Blackstone from $172.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, April 22nd. Finally, Morgan Stanley reduced their price objective on Blackstone from $166.00 to $154.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 20th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $139.55.

Several hedge funds have recently modified their holdings of BX. Vanguard Group Inc. lifted its stake in Blackstone by 12.6% in the 1st quarter. Vanguard Group Inc. now owns 44,984,296 shares of the asset manager’s stock worth $5,710,306,000 after purchasing an additional 5,048,383 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Blackstone by 4.8% in the 1st quarter. BlackRock Inc. now owns 38,236,401 shares of the asset manager’s stock worth $4,853,728,000 after buying an additional 1,750,719 shares during the last quarter. Morgan Stanley grew its holdings in Blackstone by 9.0% during the 2nd quarter. Morgan Stanley now owns 20,477,273 shares of the asset manager’s stock valued at $1,989,163,000 after purchasing an additional 1,691,281 shares during the last quarter. Royal Bank of Canada grew its holdings in Blackstone by 8.1% during the 3rd quarter. Royal Bank of Canada now owns 17,924,375 shares of the asset manager’s stock valued at $2,085,321,000 after purchasing an additional 1,348,941 shares during the last quarter. Finally, State Street Corp grew its stake in Blackstone by 6.9% in the 1st quarter. State Street Corp now owns 16,487,151 shares of the asset manager’s stock worth $2,092,879,000 after acquiring an additional 1,061,681 shares in the last quarter. 63.68% of the stock is owned by hedge funds and other institutional investors.

Blackstone Company Profile (Get Rating)

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.

See Also

Insider Buying and Selling by Quarter for Blackstone (NYSE:BX)

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