Blackstone Inc. (NYSE:BX) Receives $169.13 Consensus PT from Brokerages

Shares of Blackstone Inc. (NYSE:BX) have been given a consensus rating of “Hold” by the nineteen research firms that are presently covering the company, MarketBeat reports. Thirteen analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $171.00.

Several research firms have recently commented on BX. The Goldman Sachs Group upped their price target on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Bank of America lifted their price target on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their target price on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and increased their price target for the stock from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, UBS Group upped their price objective on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th.

Blackstone Trading Down 1.4 %

Blackstone stock opened at $174.01 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Blackstone has a 1 year low of $114.88 and a 1 year high of $200.96. The firm’s 50-day moving average is $180.03 and its 200-day moving average is $153.06. The company has a market cap of $125.64 billion, a P/E ratio of 59.80, a PEG ratio of 1.63 and a beta of 1.51.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. On average, equities analysts expect that Blackstone will post 4.43 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were paid a $0.86 dividend. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 1.98%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Insiders Place Their Bets

In other news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the transaction, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 12.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Lantz Financial LLC boosted its holdings in Blackstone by 11.7% in the second quarter. Lantz Financial LLC now owns 2,762 shares of the asset manager’s stock worth $342,000 after purchasing an additional 290 shares in the last quarter. Quotient Wealth Partners LLC raised its stake in shares of Blackstone by 12.0% in the 2nd quarter. Quotient Wealth Partners LLC now owns 1,814 shares of the asset manager’s stock valued at $225,000 after acquiring an additional 194 shares in the last quarter. First Merchants Corp bought a new stake in Blackstone during the second quarter worth approximately $297,000. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Blackstone by 20.8% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,325 shares of the asset manager’s stock valued at $535,000 after purchasing an additional 745 shares during the period. Finally, Clear Creek Financial Management LLC grew its stake in Blackstone by 6.0% in the 2nd quarter. Clear Creek Financial Management LLC now owns 4,663 shares of the asset manager’s stock valued at $577,000 after buying an additional 262 shares during the last quarter. 70.00% of the stock is owned by institutional investors and hedge funds.

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.