Blackstone (NYSE:BX) PT Lowered to $154.00

Blackstone (NYSE:BXGet Rating) had its price target reduced by Morgan Stanley from $166.00 to $154.00 in a research report report published on Wednesday, Marketbeat Ratings reports. They currently have an overweight rating on the asset manager’s stock.

BX has been the topic of a number of other research reports. Jefferies Financial Group reiterated a buy rating and issued a $155.00 target price on shares of Blackstone in a research report on Wednesday, April 13th. Citigroup dropped their target price on Blackstone from $132.50 to $117.00 and set a neutral rating on the stock in a research report on Tuesday, April 12th. StockNews.com began coverage on Blackstone in a research report on Thursday, March 31st. They issued a hold rating on the stock. BNP Paribas lowered Blackstone from an outperform rating to a neutral rating and set a $135.00 target price on the stock. in a research report on Thursday, April 7th. Finally, Zacks Investment Research upgraded Blackstone from a sell rating to a hold rating and set a $125.00 target price on the stock in a research report on Thursday, April 7th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Blackstone currently has a consensus rating of Hold and a consensus target price of $139.73.

Shares of BX stock opened at $110.59 on Wednesday. Blackstone has a fifty-two week low of $83.15 and a fifty-two week high of $149.78. The firm has a market capitalization of $75.96 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.70 and a current ratio of 0.70. The stock’s 50-day simple moving average is $120.31 and its 200-day simple moving average is $126.89.

Blackstone (NYSE:BXGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The asset manager reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.32. Blackstone had a return on equity of 17.72% and a net margin of 25.94%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The company’s revenue was down 3.3% on a year-over-year basis. As a group, equities analysts forecast that Blackstone will post 5.44 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 9th. Stockholders of record on Monday, May 2nd will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 4.77%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date is Friday, April 29th. Blackstone’s dividend payout ratio is presently 71.25%.

In other news, major shareholder Holdings L.P. Blackstone III sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, April 7th. The stock was sold at an average price of $31.24, for a total transaction of $468,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ruth Porat bought 5,000 shares of Blackstone stock in a transaction dated Friday, February 25th. The shares were acquired at an average cost of $126.21 per share, with a total value of $631,050.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 1,111,452 shares of company stock valued at $69,334,658. Corporate insiders own 1.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Peak Financial Advisors LLC boosted its position in Blackstone by 4.8% during the first quarter. Peak Financial Advisors LLC now owns 5,442 shares of the asset manager’s stock worth $691,000 after acquiring an additional 247 shares during the last quarter. Allworth Financial LP boosted its holdings in Blackstone by 49.2% in the 1st quarter. Allworth Financial LP now owns 19,788 shares of the asset manager’s stock valued at $2,512,000 after purchasing an additional 6,529 shares during the last quarter. Truist Financial Corp boosted its holdings in Blackstone by 6.8% in the 1st quarter. Truist Financial Corp now owns 239,526 shares of the asset manager’s stock valued at $30,404,000 after purchasing an additional 15,321 shares during the last quarter. UMB Bank N A MO boosted its holdings in Blackstone by 48.7% in the 1st quarter. UMB Bank N A MO now owns 202,490 shares of the asset manager’s stock valued at $25,704,000 after purchasing an additional 66,280 shares during the last quarter. Finally, Private Capital Advisors Inc. boosted its holdings in Blackstone by 1.1% in the 1st quarter. Private Capital Advisors Inc. now owns 143,981 shares of the asset manager’s stock valued at $18,277,000 after purchasing an additional 1,522 shares during the last quarter. Hedge funds and other institutional investors own 61.09% of the company’s stock.

Blackstone Company Profile (Get Rating)

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.

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