Blackstone Inc. (NYSE:BX – Get Rating) – Jefferies Financial Group increased their Q2 2022 earnings per share estimates for Blackstone in a report released on Thursday, April 21st. Jefferies Financial Group analyst G. O’hara now anticipates that the asset manager will post earnings per share of $1.26 for the quarter, up from their prior estimate of $1.13. Jefferies Financial Group currently has a “Buy” rating and a $155.00 target price on the stock. Jefferies Financial Group also issued estimates for Blackstone’s Q3 2022 earnings at $1.31 EPS, FY2022 earnings at $5.46 EPS and FY2023 earnings at $6.24 EPS.
Other research analysts have also recently issued reports about the stock. Morgan Stanley reduced their price objective on shares of Blackstone from $166.00 to $154.00 and set an “overweight” rating for the company in a report on Wednesday, April 20th. Bank of America boosted their price target on shares of Blackstone from $172.00 to $180.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company boosted their price target on shares of Blackstone from $120.00 to $122.00 and gave the stock an “equal weight” rating in a report on Friday. BNP Paribas cut shares of Blackstone from an “outperform” rating to a “neutral” rating and set a $135.00 price target on the stock. in a report on Thursday, April 7th. Finally, Citigroup cut their price target on shares of Blackstone from $132.50 to $117.00 and set a “neutral” rating on the stock in a report on Tuesday, April 12th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus price target of $139.73.
Blackstone (NYSE:BX – Get Rating) last issued its quarterly earnings data on Thursday, April 21st. The asset manager reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.48. The firm had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Blackstone had a net margin of 23.77% and a return on equity of 19.20%. The business’s revenue was down 3.3% on a year-over-year basis. During the same period last year, the company earned $0.96 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 9th. Shareholders of record on Monday, May 2nd will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 4.77%. This is a boost from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date is Friday, April 29th. Blackstone’s payout ratio is presently 79.02%.
In other Blackstone news, insider John G. Finley sold 30,000 shares of the business’s stock in a transaction dated Wednesday, February 2nd. The shares were sold at an average price of $137.38, for a total value of $4,121,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Holdings L.P. Blackstone III sold 52,900 shares of the business’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $61.23, for a total transaction of $3,239,067.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,111,452 shares of company stock worth $69,334,658. Corporate insiders own 1.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Marshall Wace LLP bought a new stake in Blackstone during the 1st quarter worth approximately $50,000. Morgan Stanley increased its holdings in Blackstone by 9.0% during the 2nd quarter. Morgan Stanley now owns 20,477,273 shares of the asset manager’s stock worth $1,989,163,000 after acquiring an additional 1,691,281 shares during the period. Nordea Investment Management AB increased its holdings in Blackstone by 103.1% during the 3rd quarter. Nordea Investment Management AB now owns 73,044 shares of the asset manager’s stock worth $8,670,000 after acquiring an additional 37,087 shares during the period. AE Wealth Management LLC increased its holdings in Blackstone by 10.9% during the 3rd quarter. AE Wealth Management LLC now owns 21,022 shares of the asset manager’s stock worth $2,446,000 after acquiring an additional 2,074 shares during the period. Finally, Mount Yale Investment Advisors LLC bought a new stake in Blackstone during the 3rd quarter worth approximately $206,000. 61.09% of the stock is currently owned by institutional investors.
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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