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

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

Blackstone Trading Down 0.1 %

Shares of NYSE:BX opened at $127.68 on Monday. Blackstone Inc. has a 12 month low of $76.19 and a 12 month high of $133.53. The company has a quick ratio of 0.84, a current ratio of 0.80 and a debt-to-equity ratio of 0.67. The company’s fifty day simple moving average is $123.13 and its 200 day simple moving average is $110.48. The firm has a market cap of $90.72 billion, a price-to-earnings ratio of 69.77, a PEG ratio of 3.16 and a beta of 1.52.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The asset manager reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.16. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same period in the previous year, the business earned $1.07 EPS. As a group, research analysts forecast that Blackstone Inc. will post 4.95 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 12th. Shareholders of record on Monday, February 5th will be paid a $0.94 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.80. This represents a $3.76 annualized dividend and a yield of 2.94%. The ex-dividend date is Friday, February 2nd. Blackstone’s payout ratio is presently 205.46%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and boosted their target price for the company from $115.00 to $128.00 in a research note on Wednesday, January 3rd. TD Cowen assumed coverage on shares of Blackstone in a research note on Thursday, January 4th. They issued a “market perform” rating and a $118.00 target price on the stock. BMO Capital Markets boosted their target price on shares of Blackstone from $95.00 to $101.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Wells Fargo & Company upped their price target on shares of Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. Finally, JPMorgan Chase & Co. upped their price target on Blackstone from $91.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $117.81.

View Our Latest Research Report on BX

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of 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 boosted its holdings in shares of Blackstone by 0.4% during the 2nd quarter. Capital World Investors now owns 32,309,237 shares of the asset manager’s stock worth $3,003,788,000 after buying an additional 115,544 shares during the period. Morgan Stanley boosted its holdings in shares of Blackstone by 3.7% during the 4th quarter. Morgan Stanley now owns 22,495,670 shares of the asset manager’s stock worth $1,668,954,000 after buying an additional 798,734 shares during the period. State Street Corp boosted its holdings in shares of Blackstone by 2.1% during the 1st 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. boosted its holdings in shares of Blackstone by 13.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,825,769 shares of the asset manager’s stock worth $1,588,433,000 after buying an additional 1,744,652 shares during the period. Institutional investors own 63.35% of the company’s stock.

About Blackstone

(Get Free Report)

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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