Blackstone Sees Unusually Large Options Volume (NYSE:BX)

Blackstone Inc. (NYSE:BXGet Free Report) saw some unusual options trading activity on Tuesday. Investors acquired 29,616 put options on the company. This represents an increase of approximately 45% compared to the average volume of 20,357 put options.

Analyst Upgrades and Downgrades

A number of research firms have commented on BX. JPMorgan Chase & Co. lifted their price objective on shares of Blackstone from $91.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $150.00 price objective on shares of Blackstone in a report on Wednesday, December 20th. Citigroup downgraded shares of Blackstone from a “buy” rating to a “neutral” rating and boosted their price target for the company from $116.00 to $124.00 in a report on Friday, January 19th. Oppenheimer downgraded shares of Blackstone from an “outperform” rating to a “market perform” rating in a report on Thursday, January 11th. Finally, TheStreet downgraded shares of Blackstone from a “b” rating to a “c+” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $119.25.

View Our Latest Research Report on Blackstone

Blackstone Price Performance

Shares of Blackstone stock opened at $126.32 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $126.33 and its two-hundred day moving average price is $116.41. Blackstone has a 52 week low of $79.29 and a 52 week high of $133.56. The stock has a market cap of $90.27 billion, a PE ratio of 69.03, a price-to-earnings-growth ratio of 1.05 and a beta of 1.51.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The asset manager reported $1.11 EPS for the quarter, topping the consensus estimate of $0.95 by $0.16. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same period in the previous year, the business earned $1.07 earnings per share. As a group, sell-side analysts anticipate that Blackstone will post 4.92 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 12th. Investors of record on Monday, February 5th were paid a $0.94 dividend. The ex-dividend date was Friday, February 2nd. This represents a $3.76 dividend on an annualized basis and a yield of 2.98%. This is a boost from Blackstone’s previous quarterly dividend of $0.80. Blackstone’s dividend payout ratio (DPR) is currently 205.46%.

Insider Buying and Selling at Blackstone

In other Blackstone news, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total value of $6,268,570.00. Following the transaction, the insider now owns 393,143 shares in the company, valued at approximately $50,294,783.99. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the firm’s stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares of the company’s stock, valued at $142,102.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the transaction, the insider now directly owns 393,143 shares of the company’s stock, valued at approximately $50,294,783.99. The disclosure for this sale can be found here. Insiders have sold a total of 2,587,168 shares of company stock worth $37,816,476 in the last quarter. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Blackstone

A number of institutional investors have recently bought and sold shares of BX. Northwest Financial Advisors purchased a new position in Blackstone during the 4th quarter valued at about $25,000. Coppell Advisory Solutions LLC bought a new stake in shares of Blackstone in the 2nd quarter valued at approximately $25,000. Halpern Financial Inc. grew its stake in shares of Blackstone by 327.1% in the 3rd quarter. Halpern Financial Inc. now owns 252 shares of the asset manager’s stock valued at $27,000 after buying an additional 193 shares in the last quarter. Bourgeon Capital Management LLC grew its stake in shares of Blackstone by 86.2% in the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. Finally, Roble Belko & Company Inc acquired a new stake in Blackstone in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

About Blackstone

(Get 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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