Blackstone Inc. (NYSE:BX) Insider John G. Finley Sells 49,000 Shares

Blackstone Inc. (NYSE:BXGet Free Report) insider John G. Finley sold 49,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total value of $6,268,570.00. Following the sale, the insider now directly owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Blackstone Stock Down 0.1 %

Shares of NYSE BX opened at $127.68 on Friday. The stock has a 50-day moving average price of $123.13 and a two-hundred day moving average price of $110.40. Blackstone Inc. has a 12 month low of $76.19 and a 12 month high of $133.53. The company has a current ratio of 0.80, a quick ratio of 0.84 and a debt-to-equity ratio of 0.67. The company has a market cap of $90.72 billion, a price-to-earnings ratio of 69.77, a PEG ratio of 3.12 and a beta of 1.52.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 EPS for the quarter, beating the consensus estimate of $0.95 by $0.16. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $2.48 billion. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. During the same quarter in the prior year, the firm earned $1.07 EPS. As a group, analysts forecast that Blackstone Inc. will post 4.95 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, February 12th. Stockholders of record on Monday, February 5th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.94%. This is a positive change from Blackstone’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, February 2nd. Blackstone’s dividend payout ratio (DPR) is presently 205.46%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Blackstone by 30.2% during the 3rd quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock worth $6,652,526,000 after buying an additional 14,396,655 shares during the period. Capital World Investors increased its position in Blackstone by 0.4% during the 2nd quarter. Capital World Investors now owns 32,309,237 shares of the asset manager’s stock valued at $3,003,788,000 after purchasing an additional 115,544 shares during the period. Morgan Stanley lifted its position in shares of Blackstone by 3.7% in the 4th quarter. Morgan Stanley now owns 22,495,670 shares of the asset manager’s stock worth $1,668,954,000 after purchasing an additional 798,734 shares during the period. State Street Corp increased its position in shares of Blackstone by 2.1% during the first quarter. State Street Corp now owns 16,157,334 shares of the asset manager’s stock worth $1,419,249,000 after buying an additional 332,962 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Blackstone by 13.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 14,825,769 shares of the asset manager’s stock valued at $1,588,433,000 after buying an additional 1,744,652 shares during the period. Institutional investors and hedge funds own 63.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BX shares. Oppenheimer downgraded shares of Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. Wells Fargo & Company upped their target price on Blackstone from $127.00 to $130.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. Piper Sandler restated an “overweight” rating and issued a $150.00 price target on shares of Blackstone in a research note on Wednesday, December 20th. TD Cowen started coverage on Blackstone in a report on Thursday, January 4th. They set a “market perform” rating and a $118.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Blackstone from $91.00 to $96.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $117.81.

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Blackstone Company Profile

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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.

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

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