24,530 Shares in Blackstone Inc. (NYSE:BX) Bought by Kentucky Retirement Systems Insurance Trust Fund
Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Blackstone Inc. (NYSE:BX – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 24,530 shares of the asset manager’s stock, valued at approximately $2,628,000.
Other large investors also recently made changes to their positions in the company. Mach 1 Financial Group LLC acquired a new stake in shares of Blackstone in the first quarter valued at approximately $17,568,000. Halpern Financial Inc. increased its stake in shares of Blackstone by 327.1% during the third quarter. Halpern Financial Inc. now owns 252 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 193 shares during the period. Coppell Advisory Solutions LLC acquired a new position in shares of Blackstone during the second quarter valued at approximately $25,000. AM Squared Ltd acquired a new position in shares of Blackstone during the second quarter valued at approximately $28,000. Finally, DHJJ Financial Advisors Ltd. acquired a new position in shares of Blackstone during the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 63.35% of the company’s stock.
Insider Buying and Selling
In other Blackstone news, insider John G. Finley sold 29,900 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $92.39, for a total transaction of $2,762,461.00. Following the completion of the transaction, the insider now owns 424,863 shares of the company’s stock, valued at approximately $39,253,092.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Blackstone news, Director Joseph Baratta sold 74,565 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $107.32, for a total transaction of $8,002,315.80. Following the completion of the transaction, the director now owns 985,883 shares of the company’s stock, valued at approximately $105,804,963.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 29,900 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $92.39, for a total transaction of $2,762,461.00. Following the transaction, the insider now directly owns 424,863 shares of the company’s stock, valued at approximately $39,253,092.57. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
Blackstone Stock Up 1.7 %
BX stock traded up $2.19 during midday trading on Tuesday, reaching $128.15. The company had a trading volume of 1,812,643 shares, compared to its average volume of 4,824,664. Blackstone Inc. has a 1 year low of $71.72 and a 1 year high of $130.41. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $91.06 billion, a P/E ratio of 52.93, a PEG ratio of 3.18 and a beta of 1.50. The company has a 50 day moving average of $105.04 and a two-hundred day moving average of $102.30.
Blackstone (NYSE:BX – Get Free Report) last released its quarterly earnings results on Thursday, October 19th. The asset manager reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.07). The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.60 billion. Blackstone had a net margin of 21.29% and a return on equity of 16.76%. The firm’s revenue for the quarter was up 140.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.06 EPS. On average, equities research analysts expect that Blackstone Inc. will post 3.87 earnings per share for the current fiscal year.
Blackstone Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, November 6th. Stockholders of record on Monday, October 30th were issued a dividend of $0.80 per share. The ex-dividend date was Friday, October 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.50%. This is an increase from Blackstone’s previous quarterly dividend of $0.79. Blackstone’s dividend payout ratio (DPR) is currently 134.45%.
Wall Street Analyst Weigh In
BX has been the topic of a number of research analyst reports. Oppenheimer lowered their price objective on shares of Blackstone from $107.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, October 20th. Jefferies Financial Group raised their target price on shares of Blackstone from $114.00 to $121.00 in a report on Tuesday, October 10th. Wells Fargo & Company reduced their target price on shares of Blackstone from $118.00 to $113.00 and set an “overweight” rating for the company in a report on Friday, October 20th. HSBC assumed coverage on shares of Blackstone in a report on Friday, October 6th. They set a “hold” rating and a $113.00 target price for the company. Finally, Morgan Stanley reduced their target price on shares of Blackstone from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.22.
View Our Latest Research Report on Blackstone
Blackstone Profile (Free Report)
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.
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