Insider Buying: Blackstone (NYSE:BX) Major Shareholder Buys 385,208 Shares of Stock

Blackstone Inc. (NYSE:BX) major shareholder Holdings Iv Gp Mana Blackstone bought 385,208 shares of the stock in a transaction on Friday, November 21st. The shares were bought at an average cost of $25.96 per share, for a total transaction of $9,999,999.68. Following the purchase, the insider owned 16,332,883 shares in the company, valued at $424,001,642.68. This trade represents a 2.42% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Tuesday, October 21st, Holdings Iv Gp Mana Blackstone acquired 9,313,155 shares of Blackstone stock. The stock was bought at an average price of $25.77 per share, with a total value of $240,000,004.35.

Blackstone Price Performance

BX traded down $1.06 during trading on Monday, reaching $141.61. The stock had a trading volume of 4,825,686 shares, compared to its average volume of 4,195,662. Blackstone Inc. has a 1-year low of $115.66 and a 1-year high of $200.96. The firm has a market capitalization of $104.57 billion, a price-to-earnings ratio of 40.46, a price-to-earnings-growth ratio of 1.18 and a beta of 1.76. The stock has a 50 day moving average of $159.22 and a two-hundred day moving average of $158.07. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The company had revenue of $2.49 billion for the quarter. As a group, equities analysts anticipate that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were paid a $1.29 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.6%. This is an increase from Blackstone’s previous quarterly dividend of $1.03. Blackstone’s dividend payout ratio is presently 147.43%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Jefferies Financial Group cut their target price on shares of Blackstone from $199.00 to $187.00 in a research note on Monday, November 10th. Morgan Stanley increased their price objective on Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Dbs Bank raised Blackstone to a “moderate buy” rating in a research report on Tuesday, August 12th. BMO Capital Markets decreased their price target on Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, October 27th. Finally, Piper Sandler reduced their price objective on shares of Blackstone from $173.00 to $168.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Eleven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $179.00.

Institutional Trading of Blackstone

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Blackstone by 1.9% during the third quarter. Vanguard Group Inc. now owns 70,827,437 shares of the asset manager’s stock valued at $12,100,868,000 after purchasing an additional 1,335,060 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its holdings in shares of Blackstone by 519,669.1% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 70,132,441 shares of the asset manager’s stock valued at $10,490,411,000 after acquiring an additional 70,118,948 shares in the last quarter. State Street Corp raised its holdings in shares of Blackstone by 1.3% during the third quarter. State Street Corp now owns 31,362,796 shares of the asset manager’s stock worth $5,358,334,000 after acquiring an additional 412,281 shares in the last quarter. Geode Capital Management LLC boosted its position in Blackstone by 1.4% during the second quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock valued at $2,462,706,000 after purchasing an additional 227,416 shares during the last quarter. Finally, Northern Trust Corp increased its position in Blackstone by 4.7% in the 3rd quarter. Northern Trust Corp now owns 7,324,989 shares of the asset manager’s stock worth $1,251,474,000 after purchasing an additional 329,379 shares during the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

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.