Blackstone Inc. (NYSE:BX – Get Free Report) insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the transaction, the insider directly owned 899,669 shares of the company’s stock, valued at $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Blackstone Trading Up 0.2%
Shares of Blackstone stock opened at $126.56 on Monday. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66. The stock has a market cap of $93.93 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 1.38 and a beta of 1.63. The company has a 50-day moving average of $115.95 and a two-hundred day moving average of $136.94.
Blackstone (NYSE:BX – Get Free Report) last issued its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period last year, the company posted $1.11 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, research analysts anticipate that Blackstone Inc. will post 5.91 EPS for the current fiscal year.
Blackstone Cuts Dividend
Institutional Investors Weigh In On Blackstone
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BX. REAP Financial Group LLC purchased a new stake in Blackstone during the 3rd quarter worth $26,000. Family CFO Inc purchased a new stake in Blackstone during the 4th quarter worth $28,000. Ares Financial Consulting LLC purchased a new stake in Blackstone during the 4th quarter worth $28,000. Richardson Financial Services Inc. purchased a new stake in Blackstone during the 4th quarter worth $29,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Blackstone during the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. Citizens Jmp dropped their target price on shares of Blackstone from $195.00 to $190.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Jefferies Financial Group decreased their target price on shares of Blackstone from $161.00 to $143.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Royal Bank Of Canada set a $173.00 price target on shares of Blackstone in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Blackstone from $156.00 to $146.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Finally, Rothschild & Co Redburn decreased their price target on shares of Blackstone from $138.00 to $134.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Eleven investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $150.95.
View Our Latest Research Report on Blackstone
Blackstone News Roundup
Here are the key news stories impacting Blackstone this week:
- Positive Sentiment: Sources say Apollo, Blackstone and KKR are competing to buy Shell’s stake in the massive LNG Canada project — a potential strategic investment for Blackstone that could add scale to its energy/private assets and revenue potential if a deal is reached. Exclusive: Apollo, Blackstone and KKR vie for Shell stake in LNG Canada, sources say
- Positive Sentiment: Dividend coverage highlights an upcoming payout (Simply Wall St/Yahoo piece), which can support investor sentiment for BX by signaling cash return and income potential for shareholders. Blackstone Inc. (NYSE:BX) Pays A US$1.16 Dividend In Just Two Days
- Neutral Sentiment: Analyst-focused coverage of Blackstone’s Q1 earnings call (MSN roundup of top analyst questions) may affect near-term guidance detail and investor expectations but is more informational unless new guidance or revisions emerge. Blackstone’s Q1 earnings call: Our top 5 analyst questions
- Negative Sentiment: Insider Vikrant Sawhney sold 30,014 BX shares on May 1 at about $125.79 (≈$3.78M), reducing his stake by ~3.23% — a large, disclosed sale that can be perceived negatively by investors searching for insider conviction. SEC filing: Insider sale SEC filing
- Negative Sentiment: Zacks Research moved BX to a Zacks Rank #5 (Strong Sell), a notable downgrade that can pressure sentiment and trigger short-term selling by momentum/quant strategies. Coverage referenced by Zacks/TickerReport and media roundups. Zacks.com Tickerreport: Zacks downgrade
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.
Further Reading
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