Blackstone (NYSE:BX) Director Ruth Porat Buys 371 Shares

Blackstone Inc. (NYSE:BX) Director Ruth Porat acquired 371 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $137.17 per share, for a total transaction of $50,890.07. Following the completion of the transaction, the director directly owned 42,189 shares in the company, valued at approximately $5,787,065.13. The trade was a 0.89% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, August 10th, Ruth Porat purchased 84 shares of Blackstone stock. The shares were purchased at an average cost of $137.32 per share, for a total transaction of $11,534.88.

Blackstone Stock Performance

Shares of NYSE:BX opened at $146.71 on Thursday. The stock has a market capitalization of $110.12 billion, a P/E ratio of 32.82, a P/E/G ratio of 1.63 and a beta of 1.56. The company has a current ratio of 0.72, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09. The business has a 50-day moving average price of $125.33 and a two-hundred day moving average price of $122.56.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, topping the consensus estimate of $1.34 by $0.18. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The company had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the previous year, the company earned $0.98 EPS. Blackstone’s revenue was up 35.9% on a year-over-year basis. Equities analysts predict that Blackstone Inc. will post 6 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a $1.29 dividend. The ex-dividend date was Monday, August 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.5%. This is an increase from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s dividend payout ratio is 115.44%.

Blackstone News Summary

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Analysts maintain a consensus “Moderate Buy” rating on BX, with 13 Buy ratings and 11 Holds. The average price target is $147.95, broadly consistent with the stock’s current trading level. Blackstone Receives Moderate Buy Rating
• Positive Sentiment: Blackstone and Quebec pension fund La Caisse agreed to acquire a 25% stake in Air Canada’s Aeroplan loyalty program for nearly $2 billion. The deal expands Blackstone’s alternative-investment exposure and could create future asset-management and fee revenue. Blackstone, La Caisse to Buy Aeroplan Stake
• Positive Sentiment: A Blackstone-backed consortium is reportedly acquiring 27 properties from H&R REIT, adding to the firm’s real-estate portfolio and potentially increasing investment-management revenue. Blackstone-Backed Consortium to Acquire H&R Properties
• Neutral Sentiment: Director Ruth Porat purchased 455 shares for approximately $62,400, a modest increase in her holdings. The purchase may signal confidence, but its size is unlikely to materially affect BX. Blackstone Insider Purchase Filing
• Negative Sentiment: Blackstone is reportedly considering abandoning plans to raise approximately $3 billion of debt for a cash-return transaction. Dropping the plan could reduce near-term capital-return flexibility and introduces uncertainty around allocation of capital. Blackstone Considers Scrapping $3 Billion Debt Plan
• Negative Sentiment: Insiders sold 54,500 shares worth roughly $8 million. CAO David Payne reduced his holdings by 12.85%, while John G. Finley cut his position by 8.02%; although such sales may reflect personal financial planning, they can weigh on sentiment. Blackstone Insider Selling

Institutional Investors Weigh In On Blackstone

Several large investors have recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in shares of Blackstone by 34.6% in the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock valued at $1,365,000 after purchasing an additional 2,035 shares during the period. Sivia Capital Partners LLC raised its position in Blackstone by 9.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock valued at $310,000 after buying an additional 177 shares during the last quarter. United Bank boosted its position in Blackstone by 14.7% during the 2nd quarter. United Bank now owns 13,528 shares of the asset manager’s stock worth $2,024,000 after acquiring an additional 1,729 shares during the last quarter. Nebula Research & Development LLC bought a new position in shares of Blackstone during the 2nd quarter worth approximately $1,124,000. Finally, Sei Investments Co. boosted its holdings in Blackstone by 1.9% during the second quarter. Sei Investments Co. now owns 452,619 shares of the asset manager’s stock worth $67,703,000 after purchasing an additional 8,655 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Evercore restated an “outperform” rating and set a $150.00 target price on shares of Blackstone in a report on Tuesday, April 21st. Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Keefe, Bruyette & Woods upgraded shares of Blackstone to a “hold” rating in a report on Monday, July 20th. BNP Paribas Exane decreased their price target on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Finally, Sanford C. Bernstein started coverage on Blackstone in a research note on Monday, June 8th. They set an “outperform” rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.95.

About Blackstone

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.