Blackstone Inc. (NYSE:BX) Receives $147.95 Average Target Price from Analysts

Blackstone Inc. (NYSE:BXGet Free Report) has earned an average rating of “Moderate Buy” from the twenty-four brokerages that are presently covering the firm, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $147.9524.

BX has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Blackstone from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 24th. Barclays lifted their price target on shares of Blackstone from $119.00 to $128.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Royal Bank Of Canada lifted their target price on shares of Blackstone from $161.00 to $169.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. cut their target price on shares of Blackstone from $136.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th.

View Our Latest Stock Report on Blackstone

Insiders Place Their Bets

In other Blackstone news, CAO David Payne sold 9,500 shares of Blackstone stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $145.23, for a total transaction of $1,379,685.00. Following the sale, the chief accounting officer owned 64,448 shares of the company’s stock, valued at $9,359,783.04. The trade was a 12.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vikrant Sawhney sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $135.55, for a total transaction of $4,066,500.00. Following the sale, the insider directly owned 869,669 shares of the company’s stock, valued at $117,883,632.95. The trade was a 3.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have bought 1,339,180 shares of company stock valued at $35,062,433 and have sold 7,562,000 shares valued at $40,331,085. 1.00% of the stock is owned by insiders.

Institutional Trading of Blackstone

Hedge funds have recently bought and sold shares of the business. Strive Asset Management LLC purchased a new stake in shares of Blackstone in the third quarter valued at approximately $30,000. Ares Financial Consulting LLC acquired a new position in Blackstone during the fourth quarter worth $28,000. Kelleher Financial Advisors purchased a new stake in Blackstone in the 3rd quarter valued at $34,000. Palladiem LLC purchased a new position in shares of Blackstone during the 4th quarter worth $31,000. Finally, Entrust Financial LLC acquired a new position in shares of Blackstone during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Trading Down 3.6%

Shares of Blackstone stock opened at $143.94 on Thursday. Blackstone has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.72. The company has a market cap of $108.04 billion, a P/E ratio of 32.20, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56. The firm has a 50-day simple moving average of $126.51 and a two-hundred day simple moving average of $122.70.

Blackstone (NYSE:BXGet Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.18. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.Blackstone’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 EPS. As a group, equities analysts predict that Blackstone will post 6 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were issued a dividend of $1.29 per share. The ex-dividend date of this dividend was Monday, August 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.16. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. Blackstone’s payout ratio is currently 115.44%.

About Blackstone

(Get Free Report)

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.

See Also

Analyst Recommendations for Blackstone (NYSE:BX)

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