Joseph Baratta Sells 116,448 Shares of Blackstone Inc. (NYSE:BX) Stock

Blackstone Inc. (NYSE:BX) Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Blackstone Stock Up 0.5 %

Shares of BX stock opened at $151.94 on Friday. The stock has a 50 day moving average of $142.63 and a 200-day moving average of $131.34. Blackstone Inc. has a 12 month low of $88.59 and a 12 month high of $161.25. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The firm has a market cap of $108.58 billion, a PE ratio of 53.69, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the business posted $0.93 earnings per share. Blackstone’s revenue was up 166.9% on a year-over-year basis. On average, equities analysts predict that Blackstone Inc. will post 4.57 EPS for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Shareholders of record on Monday, July 29th were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.16%. The ex-dividend date was Monday, July 29th. Blackstone’s payout ratio is 115.90%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of Blackstone by 1.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 509,510 shares of the asset manager’s stock worth $66,705,000 after buying an additional 5,069 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Blackstone by 216.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 108,417 shares of the asset manager’s stock valued at $14,194,000 after purchasing an additional 74,128 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of Blackstone by 148.7% during the fourth quarter. 1832 Asset Management L.P. now owns 500,044 shares of the asset manager’s stock worth $65,466,000 after acquiring an additional 299,007 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in Blackstone by 1,466.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 106,425 shares of the asset manager’s stock valued at $13,933,000 after buying an additional 99,631 shares in the last quarter. Finally, Cibc World Markets Corp increased its position in Blackstone by 44.6% during the fourth quarter. Cibc World Markets Corp now owns 164,776 shares of the asset manager’s stock worth $21,572,000 after acquiring an additional 50,785 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on BX shares. Deutsche Bank Aktiengesellschaft increased their target price on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. TD Cowen increased their target price on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th. Piper Sandler boosted their price objective on shares of Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Redburn Atlantic started coverage on shares of Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target for the company. Finally, Morgan Stanley increased their target price on Blackstone from $144.00 to $164.00 and gave the stock an “overweight” rating in a report on Tuesday, July 23rd. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and an average price target of $131.17.

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.