Insider Selling: Blackstone (NYSE:BX) Major Shareholder Sells $475,000.00 in Stock

Blackstone Inc. (NYSE:BX) major shareholder Holdings L.P. Blackstone sold 25,000 shares of Blackstone stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $19.00, for a total transaction of $475,000.00. Following the sale, the insider directly owned 125,000 shares of the company’s stock, valued at $2,375,000. The trade was a 16.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Blackstone Stock Performance

NYSE BX opened at $122.49 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $90.99 billion, a P/E ratio of 31.33, a P/E/G ratio of 1.30 and a beta of 1.63. Blackstone Inc. has a 12-month low of $101.73 and a 12-month high of $190.09. The firm has a 50-day moving average price of $117.02 and a two-hundred day moving average price of $134.88.

Blackstone (NYSE:BX) last posted its quarterly earnings data 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. The firm had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.11 EPS. Analysts anticipate that Blackstone Inc. will post 5.91 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a $1.16 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a yield of 3.8%. Blackstone’s payout ratio is currently 118.67%.

Blackstone News Roundup

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone’s data center REIT, BXDC, raised $1.75 billion in its U.S. IPO, highlighting strong demand for the firm’s digital infrastructure strategy. Article: Blackstone data center REIT raises $1.75 billion in US IPO
• Positive Sentiment: Blackstone filed and priced the IPO for Blackstone Digital Infrastructure Trust, signaling continued expansion in a high-growth data center segment. Article: Blackstone Digital Infrastructure Trust Announces Pricing of up to $2 Billion Initial Public Offering
• Positive Sentiment: Jefferies reportedly issued a positive forecast and raised its price target on Blackstone, reinforcing the bullish sentiment around the stock. Article: Jefferies Financial Group Issues Positive Forecast for Blackstone (NYSE:BX) Stock Price
• Positive Sentiment: Director Ruth Porat bought additional Blackstone shares, which can be viewed as an insider vote of confidence. Article: Ruth Porat insider trades
• Neutral Sentiment: Blackstone is also raising money for a new long-hold private equity fund, which supports future growth but does not have an immediate earnings impact. Article: Blackstone Builds On $8 Billion Core Private Equity Franchise With New Long-Hold Fund
• Neutral Sentiment: Recent analyst and media coverage remains mixed overall, with some upgrades and some downgrades offsetting each other. Article: Blackstone stock performance and analyst ratings
• Negative Sentiment: Blackstone insiders and major shareholders also disclosed stock sales, which may temper enthusiasm despite the positive IPO news. Article: Holdings L.P. Blackstone Sells 25,000 Shares of Blackstone (NYSE:BX) Stock

Hedge Funds Weigh In On Blackstone

A number of institutional investors have recently added to or reduced their stakes in BX. REAP Financial Group LLC acquired a new position in Blackstone during the 3rd quarter worth approximately $26,000. Family CFO Inc acquired a new position in Blackstone during the 4th quarter worth approximately $28,000. Ares Financial Consulting LLC acquired a new position in Blackstone during the 4th quarter worth approximately $28,000. Richardson Financial Services Inc. acquired a new position in Blackstone during the 4th quarter worth approximately $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Blackstone in the 3rd quarter valued at approximately $30,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BX shares. Citizens Jmp cut their price objective 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. Royal Bank Of Canada set a $173.00 target price on shares of Blackstone in a research report on Friday, April 24th. Argus dropped their target price on shares of Blackstone from $163.00 to $146.00 and set a “buy” rating for the company in a research report on Tuesday, April 28th. Zacks Research cut shares of Blackstone from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Finally, Evercore restated an “outperform” rating and issued a $150.00 target price on shares of Blackstone in a research report on Tuesday, April 21st. Eleven analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $151.36.

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.