Blackstone Inc. (NYSE:BX) Receives $127.56 Average PT from Brokerages

Shares of Blackstone Inc. (NYSE:BX) have been given a consensus rating of “Hold” by the seventeen ratings firms that are presently covering the stock, MarketBeat.com reports. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $127.56.

BX has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price target on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Piper Sandler boosted their price target on Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Bank of America lifted their price objective on Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, July 19th. TD Cowen raised their target price on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, UBS Group upped their price target on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th.

Insider Buying and Selling

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

Institutional Trading of Blackstone

Several institutional investors have recently added to or reduced their stakes in the company. Northwest Financial Advisors purchased a new position in Blackstone during the 4th quarter valued at $25,000. Chilton Capital Management LLC bought a new position in shares of Blackstone in the first quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Blackstone during the 2nd quarter valued at about $26,000. EdgeRock Capital LLC bought a new position in Blackstone in the 2nd quarter worth about $27,000. Finally, Bourgeon Capital Management LLC increased its position in shares of Blackstone by 86.2% during the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after acquiring an additional 100 shares during the period. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 0.2 %

Shares of NYSE:BX opened at $141.33 on Wednesday. The stock’s fifty day moving average price is $126.38 and its 200-day moving average price is $125.35. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.79. The company has a market cap of $101.00 billion, a P/E ratio of 49.94, a PEG ratio of 1.21 and a beta of 1.50. Blackstone has a 1 year low of $88.59 and a 1 year high of $145.16.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter last year, the business earned $0.93 earnings per share. The business’s quarterly revenue was up 166.9% on a year-over-year basis. Sell-side analysts expect that Blackstone will post 4.58 earnings per share for the current year.

Blackstone Cuts Dividend

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

About Blackstone

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.