Blackstone (NYSE:BX) PT Lowered to $114.00

Blackstone (NYSE:BX) had its price objective decreased by TD Cowen from $117.00 to $114.00 in a research report sent to investors on Friday morning, Benzinga reports. TD Cowen currently has a hold rating on the asset manager’s stock.

BX has been the subject of a number of other reports. Barclays restated an equal weight rating and set a $125.00 price objective (down from $129.00) on shares of Blackstone in a research report on Friday. TheStreet lowered Blackstone from a b rating to a c+ rating in a research report on Thursday, January 25th. Oppenheimer downgraded Blackstone from an outperform rating to a market perform rating in a research note on Thursday, January 11th. Wells Fargo & Company raised their price target on Blackstone from $127.00 to $130.00 and gave the stock an overweight rating in a research note on Monday, January 22nd. Finally, Piper Sandler cut their price target on Blackstone from $150.00 to $146.00 and set an overweight rating for the company in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone presently has a consensus rating of Hold and an average target price of $118.92.

Blackstone Trading Down 1.6 %

Shares of BX stock opened at $118.40 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.79 and a debt-to-equity ratio of 0.61. Blackstone has a fifty-two week low of $79.92 and a fifty-two week high of $133.56. The stock has a market capitalization of $84.61 billion, a P/E ratio of 41.84, a P/E/G ratio of 0.99 and a beta of 1.51. The stock has a 50-day simple moving average of $126.47 and a 200 day simple moving average of $117.74.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.98. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the company posted $0.97 EPS. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. On average, sell-side analysts expect that Blackstone will post 4.86 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Monday, April 29th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Friday, April 26th. Blackstone’s payout ratio is presently 132.86%.

Insider Transactions at Blackstone

In related news, Director Ruth Porat purchased 232 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average price of $127.08 per share, with a total value of $29,482.56. Following the purchase, the director now directly owns 34,225 shares in the company, valued at $4,349,313. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Ruth Porat purchased 232 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average price of $127.08 per share, with a total value of $29,482.56. Following the purchase, the director now directly owns 34,225 shares in the company, valued at $4,349,313. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reginald J. Brown purchased 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was bought at an average cost of $125.62 per share, for a total transaction of $301,488.00. Following the purchase, the director now owns 16,949 shares in the company, valued at $2,129,133.38. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 2,587,168 shares of company stock valued at $37,816,476. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Blackstone

Several institutional investors have recently bought and sold shares of BX. Northwest Financial Advisors bought a new position in Blackstone in the 4th quarter valued at $25,000. Coppell Advisory Solutions LLC bought a new stake in shares of Blackstone during the second quarter worth $25,000. Bourgeon Capital Management LLC raised its position in shares of Blackstone by 86.2% during the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Roble Belko & Company Inc bought a new stake in shares of Blackstone during the fourth quarter worth $30,000. Finally, Advantage Trust Co bought a new stake in shares of Blackstone during the fourth quarter worth $30,000. 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.