John Finley Sells 45,000 Shares of Blackstone (NYSE:BX) Stock

Blackstone Inc. (NYSE:BXGet Free Report) insider John Finley sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $147.11, for a total transaction of $6,619,950.00. Following the sale, the insider owned 516,017 shares in the company, valued at $75,911,260.87. The trade was a 8.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Blackstone Stock Up 2.1%

Shares of Blackstone stock opened at $149.45 on Friday. Blackstone Inc. has a 52-week low of $101.73 and a 52-week high of $190.09. The company has a 50 day moving average of $125.94 and a 200 day moving average of $122.55. The company has a quick ratio of 0.76, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $112.18 billion, a P/E ratio of 33.43, a P/E/G ratio of 1.62 and a beta of 1.56.

Blackstone (NYSE:BXGet Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.18. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The company’s revenue was up 35.9% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. As a group, research analysts forecast that Blackstone Inc. will post 6 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were given a dividend of $1.29 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.5%. This is an increase from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s payout ratio is currently 115.44%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BX shares. Royal Bank Of Canada upped their price target on Blackstone from $161.00 to $169.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Argus boosted their price objective on shares of Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Citizens Jmp dropped their target price on shares of Blackstone from $190.00 to $165.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 9th. BNP Paribas Exane reduced their price target on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Finally, Jefferies Financial Group raised their price objective on Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.95.

Get Our Latest Stock Report on Blackstone

More Blackstone News

Here are the key news stories impacting Blackstone this week:

  • Positive Sentiment: Blackstone joined an alliance with NVIDIA and major financial institutions to fund global AI infrastructure, including large-scale data-center and compute platforms. The partnership could create new long-term financing and asset-management revenue opportunities as demand for AI capacity grows. Blackstone Joins Global AI Infrastructure Funding Alliance
  • Positive Sentiment: Brokerages maintain a consensus “Moderate Buy” rating on BX. Thirteen analysts rate the shares Buy and 11 rate them Hold, with an average price target of $147.95, indicating continued support from Wall Street despite mixed individual target changes. Blackstone Receives Moderate Buy Rating
  • Neutral Sentiment: Director Ruth Porat purchased a combined 455 shares for roughly $62,400. The buying modestly increased her holdings and may signal confidence in Blackstone, but the transaction is too small to materially change the company’s investment outlook. Blackstone Insider Buying
  • Negative Sentiment: A valuation analysis argues that BX could be about 26% above fair value based on intrinsic-value estimates and earnings multiples. Although AI data-center and energy-transition investments may improve long-term cash-flow expectations, the premium valuation raises the risk of limited upside or a pullback. Blackstone Stock Could Be Above Fair Value
  • Negative Sentiment: Blackstone is reportedly considering abandoning a plan to raise approximately $3 billion of debt for a cash-return transaction. Scrapping the proposal could reduce near-term capital-return flexibility, although it may also avoid adding leverage. Blackstone Considers Scrapping Debt Plan
  • Negative Sentiment: Two insiders sold a combined 54,500 shares worth about $8 million. Chief accounting officer David Payne reduced his position by 12.85%, while John G. Finley cut his holdings by 8.02%; the sales may weigh on sentiment despite potentially reflecting personal financial planning. Blackstone Insider Selling

Institutional Investors Weigh In On Blackstone

A number of institutional investors and hedge funds have recently made changes to their positions in BX. Strive Asset Management LLC purchased a new stake in Blackstone during the 3rd quarter valued at approximately $30,000. Family CFO Inc purchased a new position in shares of Blackstone in the 4th quarter valued at approximately $28,000. Ares Financial Consulting LLC acquired a new position in shares of Blackstone in the fourth quarter valued at approximately $28,000. Kelleher Financial Advisors acquired a new stake in shares of Blackstone during the third quarter worth $34,000. Finally, Palladiem LLC purchased a new position in Blackstone in the 4th quarter valued at $31,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

About Blackstone

(Get Free Report)

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

Insider Buying and Selling by Quarter for Blackstone (NYSE:BX)

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