Blackstone Inc. (NYSE:BX) Stock Has Average Target Price of $144.57 According to Analysts

Blackstone Inc. (NYSE:BX) has received an average recommendation of “Moderate Buy” from the twenty-five analysts that are covering the company, Marketbeat Ratings reports. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $144.57.

Several brokerages have recently issued reports on BX. The Goldman Sachs Group reissued a “neutral” rating and issued a $128.00 price target on shares of Blackstone in a report on Thursday, October 22nd. TD Cowen reduced their target price on Blackstone from $154.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, October 12th. JPMorgan Chase & Co. decreased their target price on Blackstone from $136.00 to $135.00 and set a “neutral” rating for the company in a research note on Friday, October 23rd. Argus raised their price target on Blackstone from $146.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Piper Sandler set a $126.00 price objective on Blackstone in a report on Friday, October 23rd.

Insider Transactions at Blackstone

In related news, major shareholder Holdings Iv L.P. Blackstone purchased 272,642 shares of Blackstone stock in a transaction dated Friday, August 21st. The stock was bought at an average price of $26.14 per share, for a total transaction of $7,126,861.88. Following the completion of the acquisition, the insider directly owned 8,704,419 shares of the company’s stock, valued at $227,533,512.66. This represents a 3.23% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of the stock in a transaction on Monday, September 28th. The stock was sold at an average price of $2.94, for a total transaction of $11,077,261.44. Following the sale, the insider directly owned 16,120 shares of the company’s stock, valued at $47,392.80. This represents a 99.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have purchased 464,792 shares of company stock valued at $12,205,945 and have sold 4,077,276 shares valued at $37,573,644. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Blackstone

Institutional investors have recently modified their holdings of the company. Wellington Altus USA Inc. bought a new stake in Blackstone in the 2nd quarter valued at approximately $26,000. Addison Advisors LLC acquired a new position in Blackstone during the 2nd quarter worth approximately $30,000. NBH Bank bought a new position in shares of Blackstone during the 2nd quarter worth approximately $30,000. Bell Investment Advisors Inc acquired a new stake in shares of Blackstone in the second quarter valued at approximately $30,000. Finally, West Branch Capital LLC raised its holdings in shares of Blackstone by 26,600.0% in the second quarter. West Branch Capital LLC now owns 267 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 266 shares during the last quarter. 70.00% of the stock is currently owned by institutional investors.

Blackstone Stock Up 2.9%

Blackstone stock opened at $120.46 on Tuesday. The company’s 50 day simple moving average is $123.12 and its 200 day simple moving average is $124.65. Blackstone has a fifty-two week low of $101.73 and a fifty-two week high of $165.14. The firm has a market capitalization of $90.42 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.49 and a beta of 1.59. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.71 and a quick ratio of 0.72.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, October 22nd. The asset manager reported $1.32 EPS for the quarter, beating the consensus estimate of $1.26 by $0.06. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.27 billion. Blackstone had a net margin of 22.11% and a return on equity of 23.16%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 earnings per share. As a group, sell-side analysts anticipate that Blackstone will post 5.89 EPS for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Monday, November 2nd will be issued a dividend of $1.12 per share. This is a decrease from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date is Monday, November 2nd. This represents a $4.48 annualized dividend and a yield of 3.7%. Blackstone’s dividend payout ratio is 99.56%.

Blackstone Company Profile

Blackstone Inc (NYSE:BX) is a global alternative asset management firm that provides investment and advisory services to institutional investors, companies, and qualified individual investors. The company manages capital across private equity, real estate, credit and insurance, infrastructure, hedge fund solutions, secondaries, and growth-oriented investments.

Blackstone invests in and manages portfolios of businesses, properties, infrastructure assets, and credit instruments across a range of industries.