Blackstone Inc. (NYSE:BX - Get Free Report) dropped 1.3% on Friday . The company traded as low as $136.36 and last traded at $137.13. Approximately 479,958 shares traded hands during trading, a decline of 87% from the average daily volume of 3,767,237 shares. The stock had previously closed at $138.88.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on BX. Bank of America reduced their price objective on Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Keefe, Bruyette & Woods reduced their price objective on Blackstone from $141.00 to $139.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Barclays raised their price objective on Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a research note on Monday, April 21st. Wells Fargo & Company raised their price objective on Blackstone from $139.00 to $153.00 and gave the company an "equal weight" rating in a research note on Friday, May 23rd. Finally, UBS Group reduced their price objective on Blackstone from $180.00 to $175.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $155.65.
View Our Latest Stock Analysis on Blackstone
Blackstone Stock Performance
The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The company has a market capitalization of $101.02 billion, a PE ratio of 38.14, a price-to-earnings-growth ratio of 1.07 and a beta of 1.67. The firm's fifty day simple moving average is $135.83 and its 200 day simple moving average is $158.84.
Blackstone (NYSE:BX - Get Free Report) last posted its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.13). Blackstone had a return on equity of 19.58% and a net margin of 20.99%. The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.95 billion. During the same period in the previous year, the company earned $0.98 earnings per share. On average, research analysts predict that Blackstone Inc. will post 5.87 EPS for the current year.
Blackstone Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Monday, April 28th were issued a $0.93 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $3.72 dividend on an annualized basis and a yield of 2.69%. Blackstone's payout ratio is 112.05%.
Insider Buying and Selling at Blackstone
In other Blackstone news, insider John G. Finley sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $138.47, for a total value of $3,461,750.00. Following the completion of the transaction, the insider now owns 475,336 shares of the company's stock, valued at $65,819,775.92. This trade represents a 5.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Private Credit Stra Blackstone purchased 1,660,000 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was acquired at an average cost of $15.00 per share, with a total value of $24,900,000.00. Following the transaction, the insider now directly owns 1,666,667 shares in the company, valued at $25,000,005. This trade represents a 24,898.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.
Institutional Investors Weigh In On Blackstone
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hager Investment Management Services LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at about $28,000. Centricity Wealth Management LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at about $30,000. Roxbury Financial LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at about $34,000. 1248 Management LLC purchased a new stake in shares of Blackstone in the first quarter valued at about $25,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Blackstone in the fourth quarter valued at about $33,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.
About Blackstone
(
Get Free Report)
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.
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