Blackstone Inc. (NYSE:BX) Receives $165.86 Consensus Price Target from Brokerages

Shares of Blackstone Inc. (NYSE:BX) have received an average recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the company, Marketbeat reports. Eleven research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $165.8571.

BX has been the topic of several recent analyst reports. Rothschild & Co Redburn lowered their price objective on shares of Blackstone from $165.00 to $158.00 and set a “neutral” rating on the stock in a research note on Monday, February 2nd. JPMorgan Chase & Co. reduced their price target on Blackstone from $158.00 to $122.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. BMO Capital Markets dropped their price objective on Blackstone from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Monday, February 2nd. Citizens Jmp reiterated a “market outperform” rating and set a $195.00 target price on shares of Blackstone in a research note on Friday, January 30th. Finally, Barclays dropped their price target on Blackstone from $164.00 to $126.00 and set an “equal weight” rating on the stock in a research note on Monday, March 2nd.

Insider Buying and Selling

In related news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 1,146,789 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were bought at an average price of $26.16 per share, with a total value of $30,000,000.24. Following the completion of the transaction, the insider directly owned 16,716,249 shares of the company’s stock, valued at approximately $437,297,073.84. The trade was a 7.37% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blackstone

Institutional investors have recently modified their holdings of the business. REAP Financial Group LLC bought a new position in Blackstone during the third quarter worth about $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Blackstone during the 3rd quarter worth approximately $30,000. Strive Asset Management LLC acquired a new stake in shares of Blackstone in the third quarter valued at approximately $30,000. Traub Capital Management LLC bought a new stake in shares of Blackstone in the second quarter valued at approximately $27,000. Finally, Family CFO Inc bought a new position in Blackstone during the 4th quarter worth $28,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Down 2.7%

Shares of Blackstone stock opened at $110.40 on Monday. The stock has a market cap of $81.94 billion, a P/E ratio of 28.45, a P/E/G ratio of 0.88 and a beta of 1.80. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.61. Blackstone has a 12-month low of $101.73 and a 12-month high of $190.09. The business’s 50 day moving average is $130.16 and its 200-day moving average is $148.21.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.21. The business had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $3.69 billion. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The firm’s revenue for the quarter was up 41.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.69 earnings per share. Equities research analysts predict that Blackstone will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were paid a dividend of $1.49 per share. The ex-dividend date was Monday, February 9th. This represents a $5.96 dividend on an annualized basis and a dividend yield of 5.4%. This is a boost from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s dividend payout ratio is 153.61%.

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.