Blackstone (NYSE:BX) Reaches New 52-Week Low - Should You Sell?

Key Points

• Shares of Blackstone hit a new 52-week low, trading as low as $104.16 (last $104.54) and down about 2.6% intraday from a prior close of $107.25.
• Analysts are split—eleven rate it Buy and eleven Hold—giving a consensus “Moderate Buy” with an average price target of $165.86, though several firms have recently adjusted their targets both up and down.
• Fundamentals show a recent quarter beat (EPS $1.75 vs $1.54 est.; revenue $4.36B, +41% y/y) and a raised quarterly dividend of $1.49 (a 5.7% yield), but the dividend payout ratio is elevated at roughly 153.6%.

Shares of Blackstone Inc. (NYSE:BX - Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as $104.16 and last traded at $104.54, with a volume of 2242672 shares. The stock had previously closed at $107.25.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of Blackstone from $166.00 to $158.00 and set a "neutral" rating on the stock in a research report on Friday, January 30th. BNP Paribas Exane lowered their target price on shares of Blackstone from $167.00 to $156.00 and set a "neutral" rating for the company in a research note on Monday, January 12th. Argus lowered their price objective on shares of Blackstone from $195.00 to $163.00 and set a "buy" rating for the company in a research report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft boosted their price target on Blackstone from $164.00 to $185.00 and gave the stock a "buy" rating in a research report on Wednesday, December 17th. Finally, Rothschild & Co Redburn cut their target price on Blackstone from $165.00 to $158.00 and set a "neutral" rating on the stock in a research note on Monday, February 2nd. Eleven equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $165.86.

Blackstone Trading Down 2.6%

The stock has a 50-day simple moving average of $136.94 and a 200 day simple moving average of $151.37. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.61. The company has a market cap of $77.51 billion, a price-to-earnings ratio of 26.97, a PEG ratio of 0.87 and a beta of 1.79.

Blackstone (NYSE:BX - Get Free Report) last released its earnings results on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.21. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The firm had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the company posted $1.69 earnings per share. The company's revenue was up 41.4% compared to the same quarter last year. As a group, equities research analysts predict that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th were paid a $1.49 dividend. The ex-dividend date was Monday, February 9th. This is an increase from Blackstone's previous quarterly dividend of $1.29. This represents a $5.96 dividend on an annualized basis and a dividend yield of 5.7%. Blackstone's dividend payout ratio (DPR) is currently 153.61%.

Insiders Place Their Bets

In other Blackstone news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the company's stock in a transaction on Friday, February 27th. The shares were sold at an average price of $10.00, for a total value of $15,961,420.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 1,146,789 shares of Blackstone 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 purchase, the insider directly owned 16,716,249 shares in the company, valued at approximately $437,297,073.84. The trade was a 7.37% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BX. REAP Financial Group LLC acquired a new stake in shares of Blackstone in the third quarter valued at approximately $26,000. Redmont Wealth Advisors LLC purchased a new stake in Blackstone in the 3rd quarter valued at about $30,000. Strive Asset Management LLC purchased a new position in Blackstone during the third quarter worth about $30,000. Traub Capital Management LLC acquired a new position in shares of Blackstone in the 2nd quarter worth approximately $27,000. Finally, Family CFO Inc purchased a new stake in Blackstone during the fourth quarter worth about $28,000. 70.00% of the stock is owned by institutional investors and hedge funds.

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.

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