Shares of Blackstone Inc. (NYSE:BX - Get Free Report) have been assigned an average rating of "Hold" from the twenty-three research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $150.9545.
A number of research analysts have recently commented on BX shares. JPMorgan Chase & Co. cut their price target on shares of Blackstone from $142.00 to $136.00 and set a "neutral" rating on the stock in a report on Friday, April 24th. BNP Paribas Exane dropped their price objective on shares of Blackstone from $167.00 to $156.00 and set a "neutral" rating on the stock in a research note on Monday, January 12th. Jefferies Financial Group reduced their price objective on shares of Blackstone from $161.00 to $143.00 and set a "buy" rating for the company in a research note on Wednesday, April 8th. Argus lowered their price target on shares of Blackstone from $163.00 to $146.00 and set a "buy" rating on the stock in a report on Tuesday, April 28th. Finally, Oppenheimer raised their price objective on Blackstone from $154.00 to $156.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th.
View Our Latest Stock Report on Blackstone
Insider Activity at Blackstone
In related news, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $125.79, for a total value of $3,775,461.06. Following the transaction, the insider owned 899,669 shares in the company, valued at approximately $113,169,363.51. This represents a 3.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 2,868,069 shares of the firm's stock in a transaction on Friday, March 20th. The shares were acquired at an average price of $26.15 per share, with a total value of $75,000,004.35. Following the completion of the purchase, the insider owned 18,628,295 shares in the company, valued at approximately $487,129,914.25. This trade represents a 18.20% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 9,103,660 shares of company stock valued at $45,982,920 over the last three months. 1.00% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Blackstone
Several hedge funds have recently added to or reduced their stakes in the business. Redwood Financial Network Corp lifted its holdings in shares of Blackstone by 1.8% in the 2nd quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager's stock valued at $537,000 after buying an additional 65 shares during the period. Obermeyer Wealth Partners lifted its holdings in Blackstone by 2.3% in the third quarter. Obermeyer Wealth Partners now owns 2,993 shares of the asset manager's stock valued at $511,000 after acquiring an additional 66 shares during the period. Klingman & Associates LLC boosted its position in Blackstone by 0.4% in the 3rd quarter. Klingman & Associates LLC now owns 15,116 shares of the asset manager's stock worth $2,583,000 after purchasing an additional 67 shares in the last quarter. Lazari Capital Management Inc. grew its stake in shares of Blackstone by 4.5% during the 3rd quarter. Lazari Capital Management Inc. now owns 1,578 shares of the asset manager's stock worth $270,000 after purchasing an additional 68 shares during the period. Finally, Benchmark Financial Wealth Advisors LLC lifted its stake in shares of Blackstone by 0.9% in the 4th quarter. Benchmark Financial Wealth Advisors LLC now owns 7,748 shares of the asset manager's stock valued at $1,194,000 after purchasing an additional 69 shares during the period. 70.00% of the stock is owned by hedge funds and other institutional investors.
Blackstone News Roundup
Here are the key news stories impacting Blackstone this week:
Blackstone Stock Down 2.5%
NYSE BX opened at $123.18 on Tuesday. The firm has a market capitalization of $91.42 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 1.38 and a beta of 1.63. Blackstone has a 52 week low of $101.73 and a 52 week high of $190.09. The company has a fifty day moving average of $115.95 and a two-hundred day moving average of $136.94. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66.
Blackstone (NYSE:BX - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter last year, the firm earned $1.11 earnings per share. The firm's quarterly revenue was up 10.0% compared to the same quarter last year. On average, analysts predict that Blackstone will post 5.91 earnings per share for the current year.
Blackstone Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Monday, May 4th will be given a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, May 4th. Blackstone's payout ratio is currently 152.43%.
About Blackstone
(
Get Free Report)
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.
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