Holdings Iv Gp Mana Blackstone Purchases 385,208 Shares of Blackstone (NYSE:BX) Stock

Blackstone Inc. (NYSE:BX) major shareholder Holdings Iv Gp Mana Blackstone purchased 385,208 shares of Blackstone stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 16,332,883 shares in the company, valued at $424,001,642.68. This represents a 2.42% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases 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 shares were purchased at an average price of $25.77 per share, for a total transaction of $240,000,004.35.

Blackstone Stock Down 0.7%

Blackstone stock traded down $1.06 during midday trading on Monday, hitting $141.61. 4,825,686 shares of the stock were exchanged, 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 company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.74. The firm has a market cap of $104.57 billion, a P/E ratio of 40.46, a P/E/G ratio of 1.18 and a beta of 1.76. The company has a 50 day moving average price of $159.22 and a two-hundred day moving average price of $158.07.

Blackstone (NYSE:BX) last announced its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The company had revenue of $2.49 billion during the quarter. Blackstone had a return on equity of 22.30% and a net margin of 20.56%. On average, sell-side analysts predict that Blackstone Inc. will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BX shares. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Citigroup cut their target price on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Deutsche Bank Aktiengesellschaft decreased their price target on Blackstone from $166.00 to $164.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Keefe, Bruyette & Woods reduced their target price on Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a report on Monday, October 13th. Finally, Bank of America dropped their price target on Blackstone from $200.00 to $199.00 in a research report on Friday, October 3rd. Eleven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Blackstone presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 1,335,060 shares during the period. Kingstone Capital Partners Texas LLC boosted its stake in 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 purchasing an additional 70,118,948 shares during the period. State Street Corp increased its stake in shares of Blackstone by 1.3% in the third quarter. State Street Corp now owns 31,362,796 shares of the asset manager’s stock valued at $5,358,334,000 after purchasing an additional 412,281 shares during the period. Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 227,416 shares during the last quarter. Finally, Northern Trust Corp grew its holdings 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 buying an additional 329,379 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

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.