Blackstone Inc. (NYSE:BX) Receives Consensus Rating of “Hold” from Brokerages

Shares of Blackstone Inc. (NYSE:BXGet Rating) have received a consensus rating of “Hold” from the thirteen analysts that are covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $133.10.

A number of brokerages recently issued reports on BX. BNP Paribas cut shares of Blackstone from an “outperform” rating to a “neutral” rating and set a $135.00 price objective on the stock. in a research note on Thursday, April 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Blackstone from $180.00 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 7th. Wells Fargo & Company decreased their target price on shares of Blackstone from $124.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Zacks Investment Research raised shares of Blackstone from a “sell” rating to a “hold” rating and set a $125.00 target price on the stock in a research note on Thursday, April 7th. Finally, Citigroup decreased their target price on shares of Blackstone from $132.50 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 12th.

In other news, Director Ruth Porat bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 25th. The shares were acquired at an average price of $126.21 per share, for a total transaction of $631,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings L.P. Blackstone III sold 5,225 shares of the business’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of $60.02, for a total transaction of $313,604.50. The disclosure for this sale can be found here. In the last three months, insiders sold 1,078,452 shares of company stock worth $68,279,978. 1.00% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in BX. Bell Investment Advisors Inc acquired a new position in Blackstone in the third quarter valued at $26,000. Western Pacific Wealth Management LP acquired a new position in Blackstone in the fourth quarter valued at $27,000. Assetmark Inc. raised its holdings in shares of Blackstone by 86.1% during the third quarter. Assetmark Inc. now owns 294 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 136 shares during the period. Logan Capital Management Inc. raised its holdings in shares of Blackstone by 96.8% during the third quarter. Logan Capital Management Inc. now owns 305 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 150 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Blackstone during the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 61.09% of the company’s stock.

Shares of NYSE:BX opened at $120.39 on Thursday. The company’s 50 day simple moving average is $120.74 and its 200 day simple moving average is $126.91. The stock has a market capitalization of $82.69 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.59 and a beta of 1.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.70 and a quick ratio of 0.70. Blackstone has a 1 year low of $79.50 and a 1 year high of $149.78.

Blackstone (NYSE:BXGet Rating) last announced its quarterly earnings data on Thursday, January 27th. The asset manager reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.37. The business had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Blackstone had a net margin of 25.94% and a return on equity of 17.72%. The firm’s quarterly revenue was up 59.0% compared to the same quarter last year. During the same period last year, the firm posted $1.13 earnings per share. As a group, analysts anticipate that Blackstone will post 5.44 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 14th. Investors of record on Monday, February 7th were paid a $1.45 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date was Friday, February 4th. This represents a $5.80 annualized dividend and a dividend yield of 4.82%. Blackstone’s payout ratio is currently 71.25%.

About Blackstone (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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