Blackstone (NYSE:BX) Price Target Raised to $169.00

Blackstone (NYSE:BX) had its price objective boosted by Royal Bank Of Canada from $161.00 to $169.00 in a report published on Friday morning, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the asset manager’s stock.

Several other brokerages also recently weighed in on BX. Zacks Research upgraded Blackstone from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Piper Sandler boosted their price target on Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a research note on Wednesday, May 27th. JPMorgan Chase & Co. decreased their price target on shares of Blackstone from $136.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods raised shares of Blackstone to a “hold” rating in a report on Monday, July 20th. Thirteen analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.76.

Blackstone Trading Down 0.2%

NYSE BX opened at $129.72 on Friday. The firm has a market cap of $96.36 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 1.41 and a beta of 1.58. Blackstone has a 52 week low of $101.73 and a 52 week high of $190.09. The company has a quick ratio of 0.76, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average price of $120.33 and a 200 day moving average price of $124.58.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.18. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was up 35.9% on a year-over-year basis. As a group, sell-side analysts forecast that Blackstone will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be issued a $1.29 dividend. This represents a $5.16 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Monday, August 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. Blackstone’s payout ratio is currently 103.80%.

Insider Activity at Blackstone

In other Blackstone news, insider Vikrant Sawhney sold 30,014 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $125.79, for a total value of $3,775,461.06. Following the sale, the insider directly owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Private Multi-Asset Blackstone bought 765,111 shares of Blackstone stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average cost of $26.14 per share, with a total value of $20,000,001.54. Following the completion of the purchase, the insider owned 7,882,145 shares in the company, valued at approximately $206,039,270.30. This trade represents a 10.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought a total of 10,252,345 shares of company stock valued at $209,789,893 in the last ninety days. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BX. Family CFO Inc acquired a new position in shares of Blackstone during the fourth quarter valued at approximately $28,000. Ares Financial Consulting LLC purchased a new stake in shares of Blackstone during the fourth quarter worth approximately $28,000. Richardson Financial Services Inc. acquired a new position in Blackstone in the 4th quarter valued at $29,000. Strive Asset Management LLC acquired a new stake in Blackstone during the 3rd quarter worth $30,000. Finally, Palladiem LLC purchased a new stake in shares of Blackstone during the fourth quarter worth $31,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Key Headlines Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone beat Q2 earnings and revenue estimates, with EPS of $1.52 versus expectations around $1.33-$1.34 and revenue of $5.04 billion versus $3.42 billion expected, signaling better-than-expected operating performance. Blackstone Inc. (BX) Surpasses Q2 Earnings and Revenue Estimates
• Positive Sentiment: Assets under management hit a record $1.35 trillion, helped by nearly $70 billion in quarterly inflows, which suggests Blackstone continues to attract capital even in a tougher fundraising environment. Blackstone’s quarterly profit gets boost from asset pile, AI investment gains
• Positive Sentiment: Management highlighted that AI-related investments are starting to pay off, with gains across data centers, infrastructure, credit, and private markets boosting profit and growth prospects. BX Q2 Earnings Call Highlights AI Strategy & Fundraising Strength
• Positive Sentiment: Royal Bank of Canada raised its price target on Blackstone to $169 from $161 and kept an outperform rating, underscoring improved analyst confidence in the stock. Analyst price target update
• Neutral Sentiment: Blackstone is also in the final bidding for yacht retailer MarineMax, a potential acquisition that could expand its deal flow, though the impact on earnings is still uncertain. Blackstone, Donerail among final bidders for yacht retailer MarineMax, sources say
• Neutral Sentiment: The company also announced a higher quarterly dividend, which is supportive for income-focused investors, but this is a smaller near-term driver than the earnings beat and AI-related growth narrative. Dividend announcement

Blackstone Company Profile

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.