Blackstone (NYSE:BX) Price Target Raised to $136.00 at Barclays

Blackstone (NYSE:BX) had its price objective raised by Barclays from $129.00 to $136.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

Other research analysts also recently issued research reports about the company. Bank of America cut their price target on Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Citigroup dropped their price objective on shares of Blackstone from $190.00 to $137.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Piper Sandler lowered their target price on Blackstone from $182.00 to $140.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on Blackstone from $160.00 to $139.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Finally, StockNews.com downgraded shares of Blackstone from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $156.11.

Blackstone Trading Down 7.8 %

Shares of BX stock opened at $120.22 on Monday. The business’s fifty day moving average price is $144.31 and its 200 day moving average price is $164.73. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. The firm has a market capitalization of $87.69 billion, a PE ratio of 33.12, a P/E/G ratio of 1.07 and a beta of 1.61. Blackstone has a 1-year low of $115.66 and a 1-year high of $200.96.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The company had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. During the same period last year, the business posted $0.98 earnings per share. As a group, sell-side analysts forecast that Blackstone will post 5.87 EPS for the current fiscal year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Monday, April 28th will be given a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Monday, April 28th. Blackstone’s payout ratio is 158.68%.

Insider Activity

In other Blackstone news, Director Ruth Porat bought 301 shares of Blackstone stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the purchase, the director now owns 36,829 shares in the company, valued at $6,071,260.65. This represents a 0.82 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

Institutional investors have recently modified their holdings of the stock. Bangor Savings Bank lifted its stake in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after purchasing an additional 105 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in Blackstone in the fourth quarter valued at approximately $28,000. Centricity Wealth Management LLC acquired a new stake in Blackstone in the fourth quarter worth $30,000. Roxbury Financial LLC bought a new stake in Blackstone in the 4th quarter valued at about $34,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in Blackstone in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Company Profile

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.