Blackstone (NYSE:BX) Price Target Cut to $175.00 by Analysts at UBS Group

Blackstone (NYSE:BX - Free Report) had its price objective cut by UBS Group from $180.00 to $175.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the asset manager's stock.

BX has been the topic of a number of other reports. Morgan Stanley reduced their price objective on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Citigroup decreased their price objective on Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Bank of America reduced their price target on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Barclays raised their price objective on shares of Blackstone from $129.00 to $136.00 and gave the company an "equal weight" rating in a research note on Monday, April 21st. Finally, Piper Sandler dropped their price target on shares of Blackstone from $182.00 to $140.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Blackstone currently has an average rating of "Hold" and a consensus price target of $154.82.

Blackstone Trading Down 1.3 %

Shares of Blackstone stock traded down $1.75 on Tuesday, hitting $132.80. The stock had a trading volume of 4,663,070 shares, compared to its average volume of 3,764,258. The stock has a 50 day moving average of $141.56 and a 200 day moving average of $164.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone has a twelve month low of $115.66 and a twelve month high of $200.96. The firm has a market capitalization of $96.87 billion, a P/E ratio of 36.58, a PEG ratio of 1.07 and a beta of 1.61.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter last year, the firm posted $0.98 EPS. Sell-side analysts expect that Blackstone will post 5.87 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Monday, April 28th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.80%. The ex-dividend date is Monday, April 28th. Blackstone's dividend payout ratio (DPR) is currently 112.05%.

Insiders Place Their Bets

In other Blackstone news, Director Ruth Porat acquired 301 shares of the stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the acquisition, the director now owns 36,829 shares in the company, valued at $6,071,260.65. The trade was a 0.82 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BX. Mather Group LLC. boosted its position in Blackstone by 10.0% during the 1st quarter. Mather Group LLC. now owns 10,253 shares of the asset manager's stock valued at $1,433,000 after buying an additional 934 shares during the period. Alta Advisers Ltd grew its position in shares of Blackstone by 49.9% in the 1st quarter. Alta Advisers Ltd now owns 3,606 shares of the asset manager's stock worth $504,000 after buying an additional 1,200 shares during the last quarter. Smith Salley Wealth Management raised its holdings in Blackstone by 4.9% in the 1st quarter. Smith Salley Wealth Management now owns 9,083 shares of the asset manager's stock worth $1,270,000 after purchasing an additional 425 shares in the last quarter. Altus Wealth Group LLC boosted its position in Blackstone by 39.9% during the 1st quarter. Altus Wealth Group LLC now owns 16,057 shares of the asset manager's stock valued at $2,244,000 after acquiring an additional 4,576 shares in the last quarter. Finally, Red Door Wealth Management LLC raised its holdings in Blackstone by 25.0% in the first quarter. Red Door Wealth Management LLC now owns 24,401 shares of the asset manager's stock worth $3,411,000 after purchasing an additional 4,883 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone Company Profile

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.