Blackstone (NYSE:BX) Price Target Cut to $176.00 by Analysts at Royal Bank Of Canada

Blackstone (NYSE:BX) had its price target decreased by Royal Bank Of Canada from $179.00 to $176.00 in a report released on Monday morning,MarketScreener reports. Royal Bank Of Canada currently has an outperform rating on the asset manager’s stock.

Several other research firms have also weighed in on BX. Argus dropped their price objective on shares of Blackstone from $195.00 to $163.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. HSBC dropped their price objective on shares of Blackstone from $164.00 to $131.00 and set a “hold” rating for the company in a research report on Friday, April 10th. Oppenheimer upgraded Blackstone from a “market perform” rating to an “outperform” rating and set a $154.00 price objective on the stock in a research report on Monday, April 13th. Jefferies Financial Group decreased their price objective on Blackstone from $161.00 to $143.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Finally, Citigroup reiterated a “market outperform” rating on shares of Blackstone in a research report on Friday, January 30th. Eleven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $156.32.

Blackstone Stock Performance

NYSE BX opened at $128.96 on Monday. The firm has a market cap of $95.71 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 1.33 and a beta of 1.74. The company has a 50 day moving average of $117.09 and a 200-day moving average of $139.11. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.61. Blackstone has a 1-year low of $101.73 and a 1-year high of $190.09.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.21. The company had revenue of $4.36 billion during the quarter, compared to analyst estimates of $3.69 billion. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The company’s revenue was up 41.4% on a year-over-year basis. During the same quarter last year, the business posted $1.69 earnings per share. On average, equities analysts forecast that Blackstone will post 6.16 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were issued a dividend of $1.49 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $5.96 dividend on an annualized basis and a yield of 4.6%. This is a boost from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s dividend payout ratio (DPR) is presently 153.61%.

Insiders Place Their Bets

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of Blackstone stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $3.51, for a total transaction of $26,246,039.04. Following the completion of the sale, the insider owned 25,832 shares of the company’s stock, valued at approximately $90,670.32. The trade was a 99.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction on Friday, February 27th. The stock was sold at an average price of $10.00, for a total transaction of $15,961,420.00. The SEC filing for this sale provides additional information. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

A number of hedge funds and other institutional investors have recently made changes to their positions in BX. Jain Global LLC bought a new position in Blackstone in the 3rd quarter valued at approximately $9,116,000. Fayez Sarofim & Co lifted its stake in Blackstone by 1.9% in the 3rd quarter. Fayez Sarofim & Co now owns 1,270,608 shares of the asset manager’s stock valued at $217,083,000 after purchasing an additional 24,237 shares during the last quarter. Natixis Advisors LLC lifted its stake in Blackstone by 20.4% in the 3rd quarter. Natixis Advisors LLC now owns 840,401 shares of the asset manager’s stock valued at $143,582,000 after purchasing an additional 142,479 shares during the last quarter. Close Asset Management Ltd lifted its stake in Blackstone by 16,035.1% in the 3rd quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock valued at $194,746,000 after purchasing an additional 1,133,197 shares during the last quarter. Finally, Whittier Trust Co. lifted its stake in Blackstone by 2.1% in the 3rd quarter. Whittier Trust Co. now owns 346,318 shares of the asset manager’s stock valued at $58,337,000 after purchasing an additional 7,053 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Trending Headlines about Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone-backed Jersey Mike’s confidentially filed for an IPO, creating a potential exit/monetization event for Blackstone’s stake that could unlock realized gains and boost fee/investment income if priced well. Read More.
• Positive Sentiment: Several bullish analyst notes and price-target moves are supporting sentiment: 24/7 Wall St. published a $140.36 price target with a Buy recommendation and another outlet raised a $142 target — both signal analysts see upside from current levels. These upgrade/target increases can attract buyers ahead of catalysts. Read More.
• Positive Sentiment: Media commentary — notably Jim Cramer — pushed back on fears around Blackstone’s private credit fund redemptions, calling the scare overblown; that can soothe investor concerns about asset-quality and redemption risk in alternative credit. Read More.
• Neutral Sentiment: Royal Bank of Canada trimmed its price target modestly (from $179 to $176) but left an Outperform rating intact — a small calibration rather than a sentiment reversal, so limited immediate impact. Read More.
• Neutral Sentiment: Upcoming earnings/catalyst window (mentioned in coverage) increases event risk — results or guidance could swing the stock in either direction; analysts’ differing targets reflect that uncertainty. Read More.
• Negative Sentiment: Jersey Mike’s faces a competitive and discount-driven consumer market; a weak IPO pricing or a challenged retail backdrop could reduce the expected monetization benefit for Blackstone and temper upside. Read More.

About Blackstone

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.