Stock Traders Buy High Volume of Put Options on Blackstone (NYSE:BX)

Blackstone Inc. (NYSE:BX) was the recipient of unusually large options trading activity on Tuesday. Traders purchased 29,939 put options on the company. This is an increase of 62% compared to the average volume of 18,509 put options.

Blackstone Price Performance

Blackstone stock traded down $0.73 during midday trading on Tuesday, hitting $109.92. 5,945,970 shares of the company’s stock were exchanged, compared to its average volume of 7,217,043. The stock has a 50-day moving average price of $138.78 and a two-hundred day moving average price of $152.10. Blackstone has a 52-week low of $105.09 and a 52-week high of $190.09. The company has a market cap of $81.58 billion, a P/E ratio of 28.33, a PEG ratio of 0.95 and a beta of 1.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.76 and a current ratio of 0.76.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.21. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The firm had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter last year, the company posted $1.69 EPS. The company’s revenue for the quarter was up 41.4% on a year-over-year basis. On average, equities research analysts forecast that Blackstone 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 Tuesday, February 17th. Investors of record on Monday, February 9th were given a $1.49 dividend. This represents a $5.96 annualized dividend and a yield of 5.4%. This is a boost from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date was Monday, February 9th. Blackstone’s dividend payout ratio (DPR) is presently 153.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Blackstone from $158.00 to $122.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Royal Bank Of Canada initiated coverage on shares of Blackstone in a research report on Monday, February 23rd. They issued an “outperform” rating and a $179.00 price target on the stock. Jefferies Financial Group reduced their price objective on shares of Blackstone from $185.00 to $161.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. HSBC dropped their target price on Blackstone from $178.00 to $174.00 and set a “hold” rating on the stock in a research report on Wednesday, January 28th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $195.00 price objective on shares of Blackstone in a research note on Friday, January 30th. Eleven research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $165.86.

Insider Activity

In other news, major shareholder Holdings Iv Gp Mana Blackstone purchased 1,146,789 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were acquired at an average cost of $26.16 per share, for a total transaction of $30,000,000.24. Following the completion of the acquisition, the insider owned 16,716,249 shares in the company, valued at $437,297,073.84. This trade represents a 7.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

Institutional investors have recently modified their holdings of the company. REAP Financial Group LLC bought a new position in Blackstone during the third quarter valued at approximately $26,000. Redmont Wealth Advisors LLC purchased a new position in Blackstone in the 3rd quarter worth $30,000. Strive Asset Management LLC purchased a new stake in Blackstone during the third quarter valued at about $30,000. Traub Capital Management LLC purchased a new position in shares of Blackstone in the second quarter worth about $27,000. Finally, Family CFO Inc bought a new stake in shares of Blackstone in the 4th quarter valued at about $28,000. 70.00% of the stock is currently owned by institutional investors.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.