Blackstone Inc. (NYSE:BX) Director Purchases $26,166.12 in Stock

Blackstone Inc. (NYSE:BX) Director Ruth Porat bought 219 shares of Blackstone stock in a transaction on Monday, May 6th. The shares were acquired at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the acquisition, the director now owns 34,445 shares in the company, valued at $4,115,488.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, February 12th, Ruth Porat acquired 232 shares of Blackstone stock. The stock was purchased at an average cost of $127.08 per share, for a total transaction of $29,482.56.

Blackstone Trading Down 1.4 %

Shares of BX stock traded down $1.71 during trading hours on Wednesday, hitting $119.79. 2,918,918 shares of the company were exchanged, compared to its average volume of 3,674,363. The firm has a market cap of $85.61 billion, a PE ratio of 42.33, a PEG ratio of 0.98 and a beta of 1.52. Blackstone Inc. has a 1 year low of $80.05 and a 1 year high of $133.56. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average of $124.96 and a 200 day moving average of $119.45.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same period in the prior year, the firm posted $0.97 EPS. The company’s revenue was up 166.9% on a year-over-year basis. Analysts expect that Blackstone Inc. will post 4.77 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were issued a $0.83 dividend. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.32 annualized dividend and a yield of 2.77%. Blackstone’s payout ratio is 117.31%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BX. Stonegate Investment Group LLC increased its stake in shares of Blackstone by 0.8% in the first quarter. Stonegate Investment Group LLC now owns 20,165 shares of the asset manager’s stock worth $2,649,000 after buying an additional 169 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of Blackstone by 5.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 303,069 shares of the asset manager’s stock valued at $40,348,000 after acquiring an additional 15,875 shares during the period. Illinois Municipal Retirement Fund acquired a new stake in Blackstone in the fourth quarter worth about $855,000. Chicago Capital LLC acquired a new stake in Blackstone in the fourth quarter worth about $3,734,000. Finally, Kampmann Melissa S. acquired a new stake in Blackstone in the third quarter worth about $2,314,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on BX. Citigroup downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and increased their target price for the company from $116.00 to $124.00 in a research report on Friday, January 19th. Barclays reaffirmed an “equal weight” rating and issued a $125.00 target price (down from $129.00) on shares of Blackstone in a research report on Friday, April 19th. TD Cowen dropped their price target on Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a research report on Friday, April 19th. Piper Sandler cut their price target on Blackstone from $150.00 to $146.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods upped their price objective on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a report on Friday, January 26th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average target price of $123.65.

Blackstone Company Profile

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.