Blackstone Inc. (NYSE:BX) Director Ruth Porat Acquires 219 Shares of Stock

Blackstone Inc. (NYSE:BX) Director Ruth Porat purchased 219 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the acquisition, the director now directly owns 34,445 shares in the company, valued at approximately $4,115,488.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, February 12th, Ruth Porat purchased 232 shares of Blackstone stock. The shares were bought at an average price of $127.08 per share, for a total transaction of $29,482.56.

Blackstone Trading Up 0.0 %

Shares of BX stock opened at $119.81 on Thursday. The company has a market capitalization of $85.62 billion, a P/E ratio of 42.24, a P/E/G ratio of 0.98 and a beta of 1.52. The firm has a 50-day moving average price of $124.96 and a 200 day moving average price of $119.45. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. Blackstone Inc. has a 12-month low of $80.28 and a 12-month high of $133.56.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the company posted $0.97 EPS. The business’s revenue for the quarter was up 166.9% compared to the same quarter last year. Research analysts forecast that Blackstone Inc. will post 4.77 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Friday, April 26th. Blackstone’s dividend payout ratio is currently 117.31%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BX. Northwest Financial Advisors acquired a new stake in Blackstone during the 4th quarter worth $25,000. Chilton Capital Management LLC bought a new stake in Blackstone in the first quarter valued at about $26,000. Bourgeon Capital Management LLC grew its position in shares of Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after buying an additional 100 shares during the period. Roble Belko & Company Inc acquired a new stake in shares of Blackstone in the 4th quarter valued at approximately $30,000. Finally, Advantage Trust Co bought a new stake in Blackstone in the fourth quarter valued at approximately $30,000. 70.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BX has been the topic of several recent analyst reports. TD Cowen dropped their target price on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating on the stock in a report on Friday, April 19th. TheStreet downgraded Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. Oppenheimer lowered shares of Blackstone from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. JMP Securities restated a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. Finally, Barclays reissued an “equal weight” rating and set a $125.00 target price (down from $129.00) on shares of Blackstone in a research report on Friday, April 19th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average target price of $123.65.

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.