Blackstone (NYSE:BX) CAO David Payne Sells 9,500 Shares

Blackstone Inc. (NYSE:BX) CAO David Payne sold 9,500 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $145.23, for a total value of $1,379,685.00. Following the sale, the chief accounting officer directly owned 64,448 shares of the company’s stock, valued at $9,359,783.04. The trade was a 12.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Blackstone Stock Down 0.3%

BX stock opened at $146.71 on Thursday. The stock has a market cap of $110.12 billion, a P/E ratio of 32.82, a P/E/G ratio of 1.63 and a beta of 1.56. The company has a current ratio of 0.72, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63. The stock’s fifty day simple moving average is $125.33 and its two-hundred day simple moving average is $122.56. Blackstone Inc. has a 1-year low of $101.73 and a 1-year high of $190.09.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.18. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.The business’s revenue was up 35.9% compared to the same quarter last year. During the same period last year, the firm posted $0.98 EPS. Analysts expect that Blackstone Inc. will post 6 EPS for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were paid a $1.29 dividend. The ex-dividend date was Monday, August 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. This represents a $5.16 dividend on an annualized basis and a yield of 3.5%. Blackstone’s dividend payout ratio is presently 115.44%.

Hedge Funds Weigh In On Blackstone

Large investors have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC grew its stake in Blackstone by 9.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 100,951 shares of the asset manager’s stock valued at $15,561,000 after acquiring an additional 8,321 shares in the last quarter. Matrix Private Capital Group LLC bought a new position in Blackstone in the 1st quarter valued at $1,340,000. Benson Investment Management Company Inc. purchased a new position in shares of Blackstone during the 4th quarter valued at $5,856,000. Vanguard Group Inc. increased its holdings in shares of Blackstone by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock worth $11,046,859,000 after purchasing an additional 840,258 shares during the period. Finally, Bank of Nova Scotia boosted its stake in Blackstone by 92.2% during the first quarter. Bank of Nova Scotia now owns 807,184 shares of the asset manager’s stock valued at $92,817,000 after buying an additional 387,109 shares during the period. 70.00% of the stock is owned by institutional investors.

More Blackstone News

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone and Quebec pension fund La Caisse agreed to acquire a 25% stake in Air Canada’s Aeroplan loyalty program for nearly $2 billion. The transaction expands Blackstone’s exposure to consumer and alternative-asset investments and could support future fee-related earnings. Blackstone, La Caisse to Buy 25% of Air Canada’s Aeroplan Loyalty Program
• Positive Sentiment: A Blackstone-backed consortium is reportedly set to acquire 27 properties from H&R REIT, adding to the firm’s real-estate portfolio and creating potential management and investment-fee revenue. Blackstone Real Estate-Backed Consortium to Acquire 27 Properties From H&R REIT
• Positive Sentiment: Blackstone is one of six financial firms partnering with Nvidia to help mobilize more than $500 billion for AI-infrastructure financing. The initiative could provide long-term origination, asset-management and financing opportunities, although returns will depend on execution and demand for AI capacity. Nvidia Targets Over $500 Billion for AI Infrastructure Financing
• Neutral Sentiment: Director Ruth Porat purchased a combined 455 BX shares for roughly $62,400, modestly increasing her holdings. The purchases may signal confidence but are small relative to Blackstone’s market capitalization. Blackstone Insider Purchase Filing
• Negative Sentiment: Reports indicate Blackstone is considering abandoning a plan to raise approximately $3 billion of debt to fund cash returns. Scrapping the proposal could reduce near-term financial flexibility for distributions and has added uncertainty around capital allocation. Blackstone Considers Scrapping $3B Stakes-for-Cash Deal
• Negative Sentiment: Two insiders sold a combined 54,500 shares for 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, though insider transactions can reflect personal financial planning. Blackstone Insider Sale Filing

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Argus lifted their price target on shares of Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Morgan Stanley decreased their target price on Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. The Goldman Sachs Group upped their price target on Blackstone from $114.00 to $127.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Zacks Research raised Blackstone from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Finally, Rothschild & Co Redburn lowered their price objective on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 9th. Thirteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Blackstone currently has an average rating of “Moderate Buy” and a consensus price target of $147.95.

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.