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

Blackstone Inc. (NYSE:BXGet Free Report) has been assigned a consensus rating of “Hold” from the twenty-one ratings firms that are covering the stock, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $157.3810.

BX has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on Blackstone from $164.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Jefferies Financial Group lowered their price target on Blackstone from $161.00 to $143.00 and set a “buy” rating for the company in a research report on Wednesday. The Goldman Sachs Group lowered their target price on shares of Blackstone from $158.00 to $118.00 and set a “neutral” rating on the stock in a research note on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Blackstone in a research note on Wednesday, January 21st. Finally, Argus lowered their target price on shares of Blackstone from $195.00 to $163.00 and set a “buy” rating on the stock in a research note on Wednesday, February 4th.

Check Out Our Latest Research Report on Blackstone

Insider Buying and Selling at Blackstone

In other news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 2,868,069 shares of Blackstone stock in a transaction dated Friday, March 20th. The shares were acquired at an average cost of $26.15 per share, with a total value of $75,000,004.35. Following the transaction, the insider directly owned 18,628,295 shares in the company, valued at approximately $487,129,914.25. The trade was a 18.20% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

Several hedge funds and other institutional investors have recently made changes to their positions in BX. REAP Financial Group LLC purchased a new stake in Blackstone in the 3rd quarter worth approximately $26,000. Family CFO Inc purchased a new stake in Blackstone in the 4th quarter worth approximately $28,000. Ares Financial Consulting LLC purchased a new stake in Blackstone in the 4th quarter worth approximately $28,000. Richardson Financial Services Inc. purchased a new stake in Blackstone in the 4th quarter worth approximately $29,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Blackstone in the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

More Blackstone News

Here are the key news stories impacting Blackstone this week:

Blackstone Price Performance

BX opened at $117.04 on Friday. The stock has a 50-day moving average price of $118.30 and a 200-day moving average price of $142.06. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $86.86 billion, a PE ratio of 30.16, a P/E/G ratio of 1.18 and a beta of 1.74. Blackstone has a 1 year low of $101.73 and a 1 year high of $190.09.

Blackstone (NYSE:BXGet Free Report) last posted its quarterly earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.21. The firm had revenue of $4.36 billion during the quarter, compared to analyst estimates of $3.69 billion. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.Blackstone’s quarterly revenue was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.69 EPS. Sell-side analysts predict that Blackstone will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were paid a dividend of $1.49 per share. The ex-dividend date was Monday, February 9th. This represents a $5.96 annualized dividend and a yield of 5.1%. This is an increase from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s dividend payout ratio (DPR) is currently 153.61%.

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.

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Analyst Recommendations for Blackstone (NYSE:BX)

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