Reginald J. Brown Acquires 2,400 Shares of Blackstone Inc. (NYSE:BX) Stock

Blackstone Inc. (NYSE:BXGet Free Report) Director Reginald J. Brown acquired 2,400 shares of Blackstone stock in a transaction on Wednesday, February 21st. The stock was purchased at an average price of $125.62 per share, with a total value of $301,488.00. Following the transaction, the director now directly owns 16,949 shares in the company, valued at approximately $2,129,133.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Blackstone Stock Down 0.1 %

Shares of Blackstone stock opened at $126.20 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.80 and a debt-to-equity ratio of 0.67. Blackstone Inc. has a 12 month low of $76.19 and a 12 month high of $133.53. The business has a fifty day simple moving average of $125.26 and a 200 day simple moving average of $111.77. The stock has a market cap of $89.67 billion, a PE ratio of 68.96, a price-to-earnings-growth ratio of 3.14 and a beta of 1.52.

Blackstone (NYSE:BXGet Free Report) last announced its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $2.48 billion. During the same period in the previous year, the firm earned $1.07 earnings per share. Research analysts predict that Blackstone Inc. will post 4.92 EPS for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 12th. Shareholders of record on Monday, February 5th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Friday, February 2nd. This is an increase from Blackstone’s previous quarterly dividend of $0.80. Blackstone’s payout ratio is 205.46%.

Analyst Upgrades and Downgrades

BX has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their price objective on Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research report on Friday, January 26th. Morgan Stanley raised their price objective on Blackstone from $120.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Piper Sandler restated an “overweight” rating and set a $150.00 target price on shares of Blackstone in a research report on Wednesday, December 20th. Oppenheimer downgraded Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Finally, Citigroup downgraded Blackstone from a “buy” rating to a “neutral” rating and raised their target price for the stock from $116.00 to $124.00 in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $117.81.

View Our Latest Stock Report on BX

Institutional Investors Weigh In On Blackstone

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fairfield Bush & CO. lifted its stake in shares of Blackstone by 56.1% in the 1st quarter. Fairfield Bush & CO. now owns 4,255 shares of the asset manager’s stock valued at $540,000 after acquiring an additional 1,530 shares during the last quarter. United Bank lifted its stake in shares of Blackstone by 34.2% in the 1st quarter. United Bank now owns 8,441 shares of the asset manager’s stock valued at $1,072,000 after acquiring an additional 2,153 shares during the last quarter. Yousif Capital Management LLC lifted its stake in shares of Blackstone by 10.4% in the 1st quarter. Yousif Capital Management LLC now owns 10,969 shares of the asset manager’s stock valued at $1,392,000 after acquiring an additional 1,034 shares during the last quarter. Insight Advisors LLC PA increased its holdings in Blackstone by 1.6% in the first quarter. Insight Advisors LLC PA now owns 18,446 shares of the asset manager’s stock valued at $2,341,000 after purchasing an additional 286 shares during the period. Finally, Candriam Luxembourg S.C.A. increased its holdings in Blackstone by 12.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 38,429 shares of the asset manager’s stock valued at $4,878,000 after purchasing an additional 4,366 shares during the period. 63.35% of the stock is currently owned by institutional investors.

Blackstone Company Profile

(Get Free Report)

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.

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