The price of Blackstone Inc. (NYSE:BX) shares last traded on Wall Street rose 0.82% to $88.52.
BX stock price is now -1.81% away from the 50-day moving average and -14.86% away from the 200-day moving average. The market capitalization of the company currently stands at $106.01B.
With the price target reduced from $85.50 to $67.50, Credit Suisse Downgraded its rating from Neutral to Underperform for Blackstone Inc. (NYSE: BX). On October 19, 2022, Credit Suisse recently initiated its ‘Neutral’ rating on the stock quoting a target price of $85.50, while ‘JP Morgan’ rates the stock as ‘Neutral’.
In other news, Blackstone Holdings III L.P., 10% Owner sold 12,154,671 shares of the company’s stock on Nov 17. The stock was sold for $90,673,846 at an average price of $7.46. Upon completion of the transaction, the 10% Owner now directly owns 295 shares in the company, valued at $26113.4. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 15, 10% Owner Blackstone Holdings III L.P. sold 85,000 shares of the business’s stock. A total of $2,842,978 was realized by selling the stock at an average price of $33.45. This leaves the insider owning 10,049,728 shares of the company worth $889.6 million. Insiders disposed of 9,317,194 shares of company stock worth roughly $824.76 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BX stock. A new stake in Blackstone Inc. shares was purchased by GREAT WEST LIFE ASSURANCE CO /CAN/ during the first quarter worth $42,395,000. BALYASNY ASSET MANAGEMENT LLC invested $24,807,000 in shares of BX during the first quarter. In the first quarter, POINT72 ASSET MANAGEMENT, L.P. acquired a new stake in Blackstone Inc. valued at approximately $23,785,000. HIGHTOWER TRUST COMPANY, N.A. acquired a new stake in BX for approximately $19,610,000. SIMPLEX TRADING, LLC purchased a new stake in BX valued at around $18,518,000 in the second quarter. In total, there are 1,919 active investors with 64.60% ownership of the company’s stock.
A candlestick chart of Blackstone Inc. (NYSE: BX) showed a price of $87.57 on Wednesday morning. During the past 12 months, Blackstone Inc. has had a low of $79.54 and a high of $149.51. The fifty day moving average price for BX is $90.02 and a two-hundred day moving average price translates $103.77 for the stock.
The latest earnings results from Blackstone Inc. (NYSE: BX) was released for Sep, 2022. According to the Asset Management Company, earnings per share came in at $1.06, beating analysts’ expectations of $0.99 by 0.07. This compares to $1.94 EPS in the same period last year. The net profit margin was 20.60% and return on equity was 29.30% for BX. The company reported revenue of $1.06 billion for the quarter, compared to $6.22 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -83.0 percent. For the current quarter, analysts expect BX to generate $2.83B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/07/2022. Investors who held shares on 10/31/2022 were paid a $0.90 dividend. On an annualized basis, this represents a $4.94 dividend and a 5.58% percent yield. There was an ex-dividend date of 10/28/2022 for this dividend. In terms of dividend payout ratio, BX is presently at 144.80%.
Blackstone Inc.(BX) 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. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia. The firm’s corporate private equity business pursues transactions throughout the world across a variety of transaction types, including large buyouts,special situations, distressed mortgage loans, mid-cap buyouts, buy and build platforms, which involves multiple acquisitions behind a single management team and platform, and growth equity/development projects involving significant majority stakes in portfolio companies and minority investments in operating companies, shipping, real estate, corporate or consumer loans, and alternative energy greenfield development projects in energy and power, property, dislocated markets, shipping opportunities, financial institution breakups, re-insurance, and improving freight mobility, financial services, healthcare, life sciences, enterprise tech and consumer, as well as consumer technologies. The firm considers investment in Asia and Latin America. It has a three year investment period. Its hedge fund business manages a broad range of commingled and customized fund solutions and its credit business focuses on loans, and securities of non-investment grade companies spread across the capital structure including senior debt, subordinated debt, preferred stock and common equity. Blackstone Inc. was founded in 1985 and is headquartered in New York, New York with additional offices across Asia, Europe and North America.