Blackstone Target of Unusually Large Options Trading (NYSE:BX)

Blackstone Inc. (NYSE:BX) was the target of unusually large options trading on Wednesday. Traders bought 27,322 put options on the stock. This represents an increase of approximately 52% compared to the typical daily volume of 18,001 put options.

Blackstone Price Performance

BX stock opened at $143.62 on Friday. The business’s fifty day moving average price is $130.28 and its 200 day moving average price is $122.78. Blackstone has a 12-month low of $101.73 and a 12-month high of $190.09. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $107.80 billion, a PE ratio of 32.13, a P/E/G ratio of 1.56 and a beta of 1.56.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.18. The company had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.Blackstone’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. On average, sell-side analysts anticipate that Blackstone will post 5.99 EPS for the current year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were paid a dividend of $1.29 per share. This represents a $5.16 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s payout ratio is currently 115.44%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BX shares. BNP Paribas Exane cut their target price on Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft began coverage on Blackstone in a report on Monday, June 8th. They set a “buy” rating for the company. The Goldman Sachs Group boosted their price objective on shares of Blackstone from $114.00 to $127.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Argus increased their target price on shares of Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Sanford C. Bernstein began coverage on shares of Blackstone in a research report on Monday, June 8th. They set an “outperform” rating for the company. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $149.43.

Insider Activity

In other news, major shareholder Private Multi-Asset Blackstone purchased 765,111 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was acquired at an average price of $26.14 per share, with a total value of $20,000,001.54. Following the purchase, the insider directly owned 7,882,145 shares in the company, valued at approximately $206,039,270.30. This represents a 10.75% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Holdings Iv L.P. Blackstone purchased 272,642 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were purchased at an average price of $26.14 per share, with a total value of $7,126,861.88. Following the acquisition, the insider directly owned 8,704,419 shares in the company, valued at approximately $227,533,512.66. The trade was a 3.23% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 1,611,822 shares of company stock worth $42,189,294 and have sold 7,562,000 shares worth $40,331,085. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BX. Ares Financial Consulting LLC acquired a new position in shares of Blackstone during the fourth quarter worth $28,000. Bell Investment Advisors Inc acquired a new position in shares of Blackstone during the 2nd quarter worth about $30,000. Addison Advisors LLC purchased a new position in shares of Blackstone in the 2nd quarter valued at about $30,000. NBH Bank purchased a new stake in Blackstone during the second quarter worth approximately $30,000. Finally, Strive Asset Management LLC purchased a new position in Blackstone in the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Company Profile

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.