Blackstone Inc. (NYSE:BX) Announces Quarterly Dividend of $0.94

Blackstone Inc. (NYSE:BXGet Free Report) announced a quarterly dividend on Friday, January 26th, Wall Street Journal reports. Stockholders of record on Monday, February 5th will be paid a dividend of 0.94 per share by the asset manager on Monday, February 12th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, February 2nd. This is an increase from Blackstone’s previous quarterly dividend of $0.80.

Blackstone has raised its dividend by an average of 20.2% annually over the last three years. Blackstone has a payout ratio of 52.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Blackstone to earn $4.96 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 64.5%.

Blackstone Stock Performance

NYSE BX traded up $1.08 on Friday, hitting $124.57. The stock had a trading volume of 3,715,451 shares, compared to its average volume of 3,768,814. The stock has a market cap of $88.51 billion, a price-to-earnings ratio of 52.56, a P/E/G ratio of 3.40 and a beta of 1.52. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average is $119.35 and its two-hundred day moving average is $108.70. Blackstone has a one year low of $76.19 and a one year high of $133.53.

Blackstone (NYSE:BXGet Free Report) last announced its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.16. Blackstone had a return on equity of 16.76% and a net margin of 21.29%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $2.48 billion. During the same quarter in the prior year, the firm posted $1.07 earnings per share. On average, analysts expect that Blackstone will post 3.78 earnings per share for the current year.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 29,900 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $92.39, for a total value of $2,762,461.00. Following the transaction, the insider now owns 424,863 shares of the company’s stock, valued at $39,253,092.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider John G. Finley sold 29,900 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $92.39, for a total value of $2,762,461.00. Following the transaction, the insider now owns 424,863 shares in the company, valued at $39,253,092.57. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO David Payne sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $128.21, for a total transaction of $705,155.00. Following the sale, the chief accounting officer now directly owns 47,781 shares of the company’s stock, valued at $6,126,002.01. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blackstone

Hedge funds have recently bought and sold shares of the business. Fairfield Bush & CO. raised its position in Blackstone by 56.1% during the first quarter. Fairfield Bush & CO. now owns 4,255 shares of the asset manager’s stock valued at $540,000 after purchasing an additional 1,530 shares in the last quarter. United Bank boosted its stake in Blackstone by 34.2% in the first quarter. United Bank now owns 8,441 shares of the asset manager’s stock valued at $1,072,000 after buying an additional 2,153 shares in the last quarter. Yousif Capital Management LLC raised its stake in Blackstone by 10.4% during the first quarter. Yousif Capital Management LLC now owns 10,969 shares of the asset manager’s stock worth $1,392,000 after acquiring an additional 1,034 shares in the last quarter. Insight Advisors LLC PA grew its holdings in shares of Blackstone by 1.6% during the 1st quarter. Insight Advisors LLC PA now owns 18,446 shares of the asset manager’s stock valued at $2,341,000 after purchasing an additional 286 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its stake in Blackstone by 12.8% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 38,429 shares of the asset manager’s stock valued at $4,878,000 after purchasing an additional 4,366 shares during the last quarter. 63.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BX shares. Jefferies Financial Group increased their price objective on Blackstone from $114.00 to $121.00 in a research note on Tuesday, October 10th. HSBC initiated coverage on shares of Blackstone in a research note on Friday, October 6th. They issued a “hold” rating and a $113.00 price target on the stock. StockNews.com began coverage on Blackstone in a report on Thursday, October 5th. They set a “hold” rating for the company. Oppenheimer lowered shares of Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $116.69.

Check Out Our Latest Stock Report on Blackstone

About Blackstone

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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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Dividend History for Blackstone (NYSE:BX)

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