Blackstone (NYSE:BX) Price Target Raised to $141.00

Blackstone (NYSE:BX) had its target price lifted by Barclays from $126.00 to $141.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the asset manager’s stock.

Several other analysts also recently commented on BX. Bank of America increased their target price on Blackstone from $130.00 to $145.00 and gave the company a buy rating in a research note on Friday. Piper Sandler raised their price target on Blackstone from $134.00 to $149.00 and gave the stock an overweight rating in a research note on Friday. TD Cowen raised their price target on Blackstone from $114.00 to $120.00 and gave the stock a hold rating in a research note on Friday. JMP Securities restated a market perform rating on shares of Blackstone in a research note on Tuesday, April 9th. Finally, UBS Group lifted their target price on Blackstone from $135.00 to $138.00 and gave the company a neutral rating in a research report on Friday, April 12th. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Blackstone currently has a consensus rating of Hold and a consensus price target of $126.38.

Blackstone Stock Up 1.9 %

BX stock opened at $141.18 on Friday. Blackstone has a twelve month low of $88.59 and a twelve month high of $142.04. The company has a quick ratio of 0.79, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The firm has a market cap of $100.89 billion, a PE ratio of 49.89, a price-to-earnings-growth ratio of 1.19 and a beta of 1.50. The business has a 50 day moving average of $124.75 and a 200 day moving average of $124.51.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the business earned $0.93 EPS. The firm’s quarterly revenue was up 166.9% on a year-over-year basis. On average, research analysts forecast that Blackstone will post 4.62 EPS for the current fiscal year.

Blackstone Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 29th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.32%. Blackstone’s dividend payout ratio (DPR) is 117.31%.

Insider Transactions at Blackstone

In related news, Director Ruth Porat purchased 219 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was bought at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the transaction, the director now owns 34,445 shares in the company, valued at approximately $4,115,488.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the completion of the transaction, the director now owns 921,184 shares in the company, valued at $113,305,632. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ruth Porat bought 219 shares of the company’s stock in a transaction on Monday, May 6th. The shares were acquired at an average price of $119.48 per share, with a total value of $26,166.12. Following the transaction, the director now directly owns 34,445 shares of the company’s stock, valued at $4,115,488.60. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Institutional Trading of Blackstone

A number of large investors have recently modified their holdings of BX. Norges Bank purchased a new stake in shares of Blackstone in the fourth quarter valued at approximately $708,859,000. International Assets Investment Management LLC boosted its holdings in shares of Blackstone by 13,816.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock valued at $4,744,370,000 after purchasing an additional 3,597,828 shares during the period. Capital World Investors boosted its holdings in shares of Blackstone by 7.5% in the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after purchasing an additional 2,546,886 shares during the period. Lone Pine Capital LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at approximately $290,514,000. Finally, Lazard Asset Management LLC raised its stake in Blackstone by 19,048.1% in the first quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock worth $247,423,000 after buying an additional 1,873,573 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone 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.