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

Blackstone Inc. (NYSE:BX) Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Blackstone Stock Performance

Shares of BX opened at $151.23 on Friday. The business’s 50 day moving average price is $142.43 and its 200-day moving average price is $131.15. The stock has a market cap of $108.08 billion, a P/E ratio of 53.44, a P/E/G ratio of 1.34 and a beta of 1.51. Blackstone Inc. has a 52 week low of $88.59 and a 52 week 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.

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

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were given a $0.82 dividend. The ex-dividend date was Monday, July 29th. This represents a $3.28 annualized dividend and a yield of 2.17%. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Chilton Capital Management LLC purchased a new stake in Blackstone in the first quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Blackstone in the second quarter worth $26,000. EdgeRock Capital LLC bought a new position in Blackstone in the second quarter valued at about $27,000. Bank & Trust Co bought a new stake in shares of Blackstone during the 2nd quarter valued at about $29,000. Finally, Scarborough Advisors LLC bought a new position in shares of Blackstone in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BX shares. Deutsche Bank Aktiengesellschaft raised their price objective on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Barclays boosted their price objective on shares of Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a report on Friday, July 19th. The Goldman Sachs Group boosted their price target on shares of Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday. TD Cowen boosted 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. Finally, Piper Sandler lifted their price target on Blackstone from $134.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Fourteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and a consensus target price 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.