1,828 Shares in Blackstone Inc. (NYSE:BX) Acquired by Machina Capital S.A.S.

Key Points

• Machina Capital S.A.S. recently acquired a new stake in Blackstone Inc., purchasing 1,828 shares valued at approximately $256,000.
• Several hedge funds have increased their positions in Blackstone, with Geode Capital Management raising its stake by 3.0% and Northern Trust Corp by 10.8% during the last quarter.
• Blackstone has declared a quarterly dividend of $1.03, representing a positive increase from its previous dividend of $0.93, with an annual yield of 2.32%.

Machina Capital S.A.S. bought a new stake in shares of Blackstone Inc. (NYSE:BX - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,828 shares of the asset manager's stock, valued at approximately $256,000.

Several other hedge funds have also bought and sold shares of BX. von Borstel & Associates Inc. purchased a new position in shares of Blackstone in the first quarter worth $28,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Blackstone during the 4th quarter valued at $33,000. Bernard Wealth Management Corp. bought a new stake in shares of Blackstone during the 4th quarter valued at $34,000. Putney Financial Group LLC bought a new position in Blackstone in the 4th quarter worth about $34,000. Finally, Garde Capital Inc. bought a new position in Blackstone during the 1st quarter valued at about $36,000. 70.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Blackstone news, insider Private Credit Stra Blackstone bought 1,660,000 shares of Blackstone stock in a transaction dated Thursday, May 1st. The stock was acquired at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the purchase, the insider directly owned 1,666,667 shares in the company, valued at $25,000,005. This represents a 24,898.76% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ruth Porat bought 237 shares of Blackstone stock in a transaction dated Monday, May 5th. The shares were acquired at an average cost of $136.33 per share, with a total value of $32,310.21. Following the completion of the purchase, the director owned 37,067 shares in the company, valued at approximately $5,053,344.11. This trade represents a 0.64% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 2,849,769 shares of company stock valued at $54,932,307. Insiders own 1.00% of the company's stock.

Blackstone Stock Down 0.3%

BX traded down $0.45 on Tuesday, hitting $176.49. The company had a trading volume of 734,395 shares, compared to its average volume of 4,289,706. The stock has a fifty day moving average price of $149.73 and a 200-day moving average price of $150.43. Blackstone Inc. has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.75 and a current ratio of 0.74. The stock has a market capitalization of $128.78 billion, a price-to-earnings ratio of 47.44, a P/E/G ratio of 1.55 and a beta of 1.65.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.11. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. The business had revenue of $3.07 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The company's revenue was up 32.7% on a year-over-year basis. Analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, August 4th will be issued a $1.03 dividend. The ex-dividend date is Monday, August 4th. This is an increase from Blackstone's previous quarterly dividend of $0.93. This represents a $4.12 dividend on an annualized basis and a yield of 2.33%. Blackstone's payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

BX has been the topic of several research analyst reports. Citizens Jmp upgraded shares of Blackstone from a "market perform" rating to an "outperform" rating and set a $165.00 target price on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group reissued a "neutral" rating on shares of Blackstone in a report on Friday. Barclays increased their price objective on shares of Blackstone from $168.00 to $181.00 and gave the company an "equal weight" rating in a report on Friday. Cowen reiterated a "buy" rating on shares of Blackstone in a research report on Monday, April 21st. Finally, Piper Sandler raised their price target on Blackstone from $157.00 to $181.00 and gave the stock a "neutral" rating in a research report on Monday. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, Blackstone has a consensus rating of "Hold" and a consensus price target of $170.12.

Blackstone 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.