Ruth Porat Buys 324 Shares of Blackstone (NYSE:BX) Stock

Blackstone Inc. (NYSE:BX) Director Ruth Porat acquired 324 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $146.92 per share, with a total value of $47,602.08. Following the acquisition, the director directly owned 39,077 shares of the company’s stock, valued at $5,741,192.84. This trade represents a 0.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, November 10th, Ruth Porat bought 78 shares of Blackstone stock. The stock was purchased at an average cost of $143.40 per share, for a total transaction of $11,185.20.

Blackstone Price Performance

NYSE BX opened at $141.46 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $104.46 billion, a P/E ratio of 40.42, a PEG ratio of 1.18 and a beta of 1.76. The company has a 50-day moving average price of $163.12 and a 200-day moving average price of $157.60. Blackstone Inc. has a 52 week low of $115.66 and a 52 week high of $200.96.

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

Blackstone Increases Dividend

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

Hedge Funds Weigh In On Blackstone

Hedge funds have recently bought and sold shares of the business. 1248 Management LLC bought a new position in shares of Blackstone in the first quarter worth about $25,000. REAP Financial Group LLC bought a new position in Blackstone in the 3rd quarter worth about $26,000. Traub Capital Management LLC bought a new stake in shares of Blackstone during the second quarter valued at approximately $27,000. Wealth Preservation Advisors LLC bought a new position in Blackstone in the first quarter worth approximately $28,000. Finally, Anderson Financial Strategies LLC purchased a new position in Blackstone during the 1st quarter worth $28,000. Institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on BX. Jefferies Financial Group lowered their target price on Blackstone from $199.00 to $187.00 in a research report on Monday, November 10th. Deutsche Bank Aktiengesellschaft cut their price objective on Blackstone from $166.00 to $164.00 and set a “buy” rating for the company in a research note on Friday. BMO Capital Markets dropped their price objective on Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Dbs Bank raised Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. Finally, Citigroup dropped their price target on Blackstone from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Eleven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $179.00.

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.