Blackstone (NYSE:BX) Given New $158.00 Price Target at Rothschild & Co Redburn

Blackstone (NYSE:BXFree Report) had its target price trimmed by Rothschild & Co Redburn from $165.00 to $158.00 in a research note released on Monday,MarketScreener reports. The brokerage currently has a neutral rating on the asset manager’s stock.

Other research analysts have also recently issued reports about the stock. Bank of America decreased their target price on shares of Blackstone from $199.00 to $189.00 in a research note on Wednesday, December 10th. Citizens Jmp reissued a “market outperform” rating and issued a $195.00 price objective on shares of Blackstone in a research report on Friday. Keefe, Bruyette & Woods cut their price target on Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th. Evercore ISI lowered their price objective on Blackstone from $175.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Royal Bank Of Canada set a $195.00 target price on Blackstone in a research report on Friday. Ten investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Blackstone has a consensus rating of “Hold” and an average price target of $175.33.

Read Our Latest Report on Blackstone

Blackstone Trading Down 0.7%

Shares of BX opened at $141.36 on Monday. Blackstone has a 12 month low of $115.66 and a 12 month high of $190.09. The stock’s 50-day moving average is $153.02 and its two-hundred day moving average is $160.55. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.76 and a quick ratio of 0.75. The stock has a market cap of $104.38 billion, a PE ratio of 36.43, a P/E/G ratio of 1.01 and a beta of 1.76.

Blackstone (NYSE:BXGet Free Report) last announced its earnings results on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, beating the consensus estimate of $1.54 by $0.21. The business had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $3.69 billion. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The company’s revenue was up 41.4% on a year-over-year basis. During the same period last year, the business posted $1.69 EPS. Equities analysts forecast that Blackstone will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th will be issued a $1.49 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date is Monday, February 9th. This represents a $5.96 dividend on an annualized basis and a dividend yield of 4.2%. Blackstone’s dividend payout ratio (DPR) is presently 132.99%.

Insider Buying and Selling

In other Blackstone news, Director Ruth Porat acquired 324 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was purchased at an average price of $146.92 per share, with a total value of $47,602.08. Following the completion of the acquisition, the director directly owned 39,077 shares in the company, valued at $5,741,192.84. This trade represents a 0.84% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the completion of the transaction, the insider owned 2,161 shares in the company, valued at approximately $21,610. The trade was a 99.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have bought 770,078 shares of company stock worth $20,058,800 over the last ninety days. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Blackstone by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock worth $11,046,859,000 after buying an additional 840,258 shares during the period. State Street Corp increased its holdings in shares of Blackstone by 1.3% in the 3rd quarter. State Street Corp now owns 31,362,796 shares of the asset manager’s stock worth $5,358,334,000 after acquiring an additional 412,281 shares during the period. Geode Capital Management LLC boosted its stake in Blackstone by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock valued at $2,462,706,000 after purchasing an additional 227,416 shares during the period. Northern Trust Corp grew its position in Blackstone by 4.7% in the 3rd quarter. Northern Trust Corp now owns 7,324,989 shares of the asset manager’s stock worth $1,251,474,000 after purchasing an additional 329,379 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Blackstone during the second quarter valued at approximately $1,071,348,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Key Blackstone News

Here are the key news stories impacting Blackstone this week:

About Blackstone

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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.

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Analyst Recommendations for Blackstone (NYSE:BX)

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