Weekly Analysts’ Ratings Changes for Blackstone (BX)

Posted by Rob Hiaasen on May 2nd, 2024

A number of firms have modified their ratings and price targets on shares of Blackstone (NYSE: BX) recently:

4/24/2024 – Blackstone had its price target raised by analysts at Argus from $133.00 to $135.00. They now have a “buy” rating on the stock.
4/19/2024 – Blackstone had its price target lowered by analysts at JPMorgan Chase & Co. from $105.00 to $100.00. They now have a “neutral” rating on the stock.
4/19/2024 – Blackstone had its price target lowered by analysts at TD Cowen from $117.00 to $114.00. They now have a “hold” rating on the stock.
4/19/2024 – Blackstone had its “equal weight” rating reaffirmed by analysts at Barclays PLC. They now have a $125.00 price target on the stock, down previously from $129.00.
4/19/2024 – Blackstone had its price target lowered by analysts at Bank of America Co. from $141.00 to $132.00. They now have a “buy” rating on the stock.
4/17/2024 – Blackstone had its price target raised by analysts at Morgan Stanley from $144.00 to $145.00. They now have an “overweight” rating on the stock.
4/12/2024 – Blackstone had its price target raised by analysts at UBS Group AG from $135.00 to $138.00. They now have a “neutral” rating on the stock.
4/10/2024 – Blackstone had its price target lowered by analysts at Piper Sandler from $150.00 to $146.00. They now have an “overweight” rating on the stock.
4/9/2024 – Blackstone had its “market perform” rating reaffirmed by analysts at JMP Securities.
4/8/2024 – Blackstone had its price target raised by analysts at Barclays PLC from $126.00 to $129.00. They now have an “equal weight” rating on the stock.
4/2/2024 – Blackstone had its “neutral” rating reaffirmed by analysts at UBS Group AG. They now have a $135.00 price target on the stock, down previously from $140.00.
3/4/2024 – Blackstone had its price target raised by analysts at Bank of America Co. from $146.00 to $147.00. They now have a “buy” rating on the stock.

Blackstone Trading Up 0.7 %

Shares of BX stock opened at $117.47 on Thursday. The firm has a market capitalization of $83.95 billion, a PE ratio of 41.51, a price-to-earnings-growth ratio of 0.97 and a beta of 1.52. The stock has a fifty day moving average of $125.45 and a two-hundred day moving average of $118.76. Blackstone Inc. has a 1 year low of $79.92 and a 1 year high of $133.56. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 0.79.

Blackstone (NYSE:BX – Get Free Report) last issued its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.98. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The firm’s quarterly revenue was up 166.9% on a year-over-year basis. During the same period last year, the company posted $0.97 EPS. As a group, research analysts expect that Blackstone Inc. will post 4.77 EPS for the current year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, April 26th. Blackstone’s dividend payout ratio is presently 117.31%.

Insider Transactions at Blackstone

In other news, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the sale, the insider now owns 393,143 shares in the company, valued at $50,294,783.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Ruth Porat acquired 232 shares of the company’s stock in a transaction on Monday, February 12th. The shares were purchased at an average price of $127.08 per share, for a total transaction of $29,482.56. Following the purchase, the director now owns 34,225 shares in the company, valued at $4,349,313. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the transaction, the insider now owns 393,143 shares in the company, valued at $50,294,783.99. The disclosure for this sale can be found here. Insiders have sold 2,587,168 shares of company stock valued at $37,816,476 over the last three months. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

Institutional investors have recently bought and sold shares of the stock. Stonegate Investment Group LLC lifted its holdings in shares of Blackstone by 0.8% during the first quarter. Stonegate Investment Group LLC now owns 20,165 shares of the asset manager’s stock worth $2,649,000 after buying an additional 169 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Blackstone by 5.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 303,069 shares of the asset manager’s stock valued at $40,348,000 after purchasing an additional 15,875 shares in the last quarter. Chicago Capital LLC acquired a new stake in Blackstone during the fourth quarter valued at approximately $3,734,000. Illinois Municipal Retirement Fund acquired a new position in shares of Blackstone in the 4th quarter worth approximately $855,000. Finally, Kampmann Melissa S. bought a new position in shares of Blackstone during the 3rd quarter worth approximately $2,314,000. 70.00% of the stock is currently owned by institutional investors.

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.