Blackstone (NYSE:BX) Major Shareholder Holdings Iv Gp Mana Blackstone Purchases 2,868,069 Shares of Stock

Blackstone Inc. (NYSE:BX) major shareholder Holdings Iv Gp Mana Blackstone acquired 2,868,069 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were purchased at an average cost of $26.15 per share, for a total transaction of $75,000,004.35. Following the completion of the purchase, the insider directly owned 18,628,295 shares of the company’s stock, valued at approximately $487,129,914.25. The trade was a 18.20% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Holdings Iv Gp Mana Blackstone also recently made the following trade(s):

• On Monday, February 23rd, Holdings Iv Gp Mana Blackstone acquired 1,146,789 shares of Blackstone stock. The stock was acquired at an average cost of $26.16 per share, for a total transaction of $30,000,000.24.

Blackstone Stock Performance

Shares of NYSE:BX opened at $109.31 on Tuesday. The business has a fifty day moving average of $129.21 and a 200-day moving average of $147.78. The firm has a market cap of $81.13 billion, a PE ratio of 28.17, a price-to-earnings-growth ratio of 0.88 and a beta of 1.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.76 and a current ratio of 0.76. Blackstone Inc. has a twelve month low of $101.73 and a twelve month high of $190.09.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.21. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The firm had revenue of $4.36 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the firm earned $1.69 EPS. The company’s revenue was up 41.4% on a year-over-year basis. On average, equities research analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were given a $1.49 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date was Monday, February 9th. This represents a $5.96 annualized dividend and a yield of 5.5%. Blackstone’s dividend payout ratio is presently 153.61%.

Wall Street Analyst Weigh In

Several research firms have recently commented on BX. UBS Group lowered their target price on Blackstone from $171.00 to $137.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Bank of America lowered their price objective on Blackstone from $199.00 to $189.00 in a research report on Wednesday, December 10th. Royal Bank Of Canada started coverage on shares of Blackstone in a research report on Monday, February 23rd. They set an “outperform” rating and a $179.00 target price on the stock. Piper Sandler lowered their price target on shares of Blackstone from $168.00 to $158.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. Finally, Barclays dropped their price target on shares of Blackstone from $164.00 to $126.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. Eleven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.86.

Hedge Funds Weigh In On Blackstone

Several institutional investors have recently modified their holdings of BX. Redwood Financial Network Corp increased its stake in Blackstone by 1.8% during the 2nd quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after buying an additional 65 shares during the period. Obermeyer Wealth Partners grew its stake in shares of Blackstone by 2.3% during the third quarter. Obermeyer Wealth Partners now owns 2,993 shares of the asset manager’s stock valued at $511,000 after acquiring an additional 66 shares in the last quarter. Klingman & Associates LLC increased its position in shares of Blackstone by 0.4% during the third quarter. Klingman & Associates LLC now owns 15,116 shares of the asset manager’s stock worth $2,583,000 after acquiring an additional 67 shares during the last quarter. Lazari Capital Management Inc. boosted its holdings in Blackstone by 4.5% in the third quarter. Lazari Capital Management Inc. now owns 1,578 shares of the asset manager’s stock valued at $270,000 after purchasing an additional 68 shares during the last quarter. Finally, Benchmark Financial Wealth Advisors LLC increased its holdings in Blackstone by 0.9% during the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager’s stock worth $1,194,000 after purchasing an additional 69 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Company Profile

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.