Analysts Set Blackstone Inc. (NYSE:BX) Price Target at $154.82

Shares of Blackstone Inc. (NYSE:BX) have received an average rating of “Moderate Buy” from the eighteen analysts that are covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $155.65.

BX has been the topic of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Blackstone from $139.00 to $153.00 and gave the stock an “equal weight” rating in a report on Friday. Citizens Jmp upgraded shares of Blackstone from a “market perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. lifted their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a “neutral” rating in a report on Friday, January 31st. JMP Securities reiterated a “market outperform” rating and issued a $165.00 price target on shares of Blackstone in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Blackstone from $141.00 to $139.00 and set a “market perform” rating on the stock in a report on Tuesday, April 22nd.

Blackstone Stock Down 0.5%

Shares of NYSE BX opened at $136.23 on Tuesday. Blackstone has a one year low of $115.66 and a one year high of $200.96. 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 firm’s 50 day simple moving average is $137.02 and its two-hundred day simple moving average is $160.44. The stock has a market capitalization of $99.40 billion, a P/E ratio of 37.53, a PEG ratio of 1.07 and a beta of 1.67.

Blackstone (NYSE:BX) last issued 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 during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the business posted $0.98 EPS. As a group, analysts expect that Blackstone will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Monday, April 28th. Blackstone’s dividend payout ratio is presently 112.05%.

Insider Transactions at Blackstone

In other Blackstone news, insider John G. Finley sold 25,000 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was 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 approximately $65,819,775.92. The trade was a 5.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Private Credit Stra Blackstone bought 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 owns 1,666,667 shares in the company, valued at $25,000,005. The trade was a 24,898.76% increase in their position. The disclosure for this purchase can be found here. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Blackstone

A number of hedge funds have recently bought and sold shares of the business. Avidian Wealth Enterprises LLC grew its stake in shares of Blackstone by 0.4% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 16,184 shares of the asset manager’s stock valued at $2,790,000 after purchasing an additional 59 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Blackstone by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,426 shares of the asset manager’s stock valued at $1,970,000 after purchasing an additional 62 shares during the period. McAdam LLC grew its stake in shares of Blackstone by 3.9% during the 4th quarter. McAdam LLC now owns 1,687 shares of the asset manager’s stock valued at $291,000 after purchasing an additional 63 shares during the period. CENTRAL TRUST Co grew its stake in shares of Blackstone by 0.6% during the 4th quarter. CENTRAL TRUST Co now owns 11,035 shares of the asset manager’s stock valued at $1,903,000 after acquiring an additional 63 shares during the period. Finally, Catalina Capital Group LLC grew its stake in shares of Blackstone by 3.2% during the 4th quarter. Catalina Capital Group LLC now owns 2,117 shares of the asset manager’s stock valued at $365,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

About Blackstone

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.