Blackstone Inc. (NYSE:BX) Director Ruth Porat Acquires 5,000 Shares

Blackstone Inc. (NYSE:BXGet Rating) Director Ruth Porat acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, April 27th. The stock was purchased at an average price of $109.69 per share, with a total value of $548,450.00. Following the transaction, the director now owns 15,942 shares in the company, valued at $1,748,677.98. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Ruth Porat also recently made the following trade(s):

  • On Friday, February 25th, Ruth Porat acquired 5,000 shares of Blackstone stock. The stock was purchased at an average price of $126.21 per share, with a total value of $631,050.00.
  • On Monday, February 14th, Ruth Porat acquired 44 shares of Blackstone stock. The stock was purchased at an average price of $123.38 per share, with a total value of $5,428.72.

Blackstone stock opened at $108.29 on Friday. The firm has a 50-day moving average of $119.05 and a 200-day moving average of $126.72. Blackstone Inc. has a one year low of $83.75 and a one year high of $149.78. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market cap of $74.38 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 1.59 and a beta of 1.31.

Blackstone (NYSE:BXGet Rating) last posted its quarterly earnings data on Thursday, April 21st. The asset manager reported $1.55 EPS for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.48. Blackstone had a net margin of 23.77% and a return on equity of 19.20%. The company had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the business posted $0.96 EPS. The company’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, sell-side analysts expect that Blackstone Inc. will post 5.5 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 9th. Stockholders of record on Monday, May 2nd will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 4.88%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date is Friday, April 29th. Blackstone’s dividend payout ratio is currently 79.02%.

Several institutional investors have recently bought and sold shares of the company. Bell Investment Advisors Inc acquired a new stake in Blackstone in the 3rd quarter valued at about $26,000. Western Pacific Wealth Management LP acquired a new stake in Blackstone in the 4th quarter valued at about $27,000. Landmark Wealth Management LLC acquired a new stake in Blackstone in the 1st quarter valued at about $27,000. Assetmark Inc. lifted its stake in Blackstone by 86.1% in the 3rd quarter. Assetmark Inc. now owns 294 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 136 shares during the last quarter. Finally, Logan Capital Management Inc. lifted its stake in Blackstone by 96.8% in the 3rd quarter. Logan Capital Management Inc. now owns 305 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 61.09% of the company’s stock.

A number of analysts recently commented on the stock. Exane BNP Paribas cut shares of Blackstone from an “outperform” rating to a “neutral” rating in a research report on Thursday, April 7th. StockNews.com initiated coverage on shares of Blackstone in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Jefferies Financial Group reiterated a “buy” rating and set a $155.00 target price on shares of Blackstone in a report on Wednesday, April 13th. Wells Fargo & Company increased their target price on Blackstone from $120.00 to $122.00 and gave the stock an “equal weight” rating in a report on Friday, April 22nd. Finally, BNP Paribas cut Blackstone from an “outperform” rating to a “neutral” rating and set a $135.00 target price for the company. in a report on Thursday, April 7th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $139.73.

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.

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