Blackstone Inc. (NYSE:BX) Receives $128.65 Average PT from Brokerages

Shares of Blackstone Inc. (NYSE:BX) have been given a consensus rating of “Hold” by the eighteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Twelve analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $128.65.

BX has been the subject of several analyst reports. Barclays upped their target price on Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Argus boosted their target price on shares of Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Bank of America lifted their price target on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, TD Cowen raised their target price on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research note on Friday, July 19th.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the transaction, the director now owns 921,184 shares in the company, valued at $113,305,632. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Blackstone

Institutional investors have recently modified their holdings of the company. Northwest Financial Advisors acquired a new position in Blackstone in the fourth quarter worth approximately $25,000. Chilton Capital Management LLC acquired a new stake in shares of Blackstone during the first quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Blackstone in the 2nd quarter valued at $26,000. EdgeRock Capital LLC acquired a new stake in Blackstone during the 2nd quarter worth about $27,000. Finally, Bank & Trust Co acquired a new position in shares of Blackstone in the second quarter worth about $29,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Stock Down 1.3 %

BX opened at $132.95 on Friday. The company has a market cap of $95.01 billion, a PE ratio of 46.98, a price-to-earnings-growth ratio of 1.17 and a beta of 1.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 0.77. Blackstone has a 1 year low of $88.59 and a 1 year high of $145.16. The firm has a 50 day moving average price of $130.14 and a 200 day moving average price of $126.55.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the business posted $0.93 EPS. The business’s revenue was up 166.9% on a year-over-year basis. Sell-side analysts expect that Blackstone will post 4.58 earnings per share for the current year.

Blackstone Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were given a dividend of $0.82 per share. The ex-dividend date was Monday, July 29th. This represents a $3.28 annualized dividend and a dividend yield of 2.47%. Blackstone’s dividend payout ratio is currently 115.90%.

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.