Blackstone (NYSE:BX) Price Target Lowered to $118.00 at The Goldman Sachs Group

Blackstone (NYSE:BX) had its price objective decreased by The Goldman Sachs Group from $158.00 to $118.00 in a research report released on Monday,MarketScreener reports. The Goldman Sachs Group currently has a neutral rating on the asset manager’s stock.

Other analysts also recently issued research reports about the stock. Citizens Jmp restated a “market outperform” rating and set a $195.00 price objective on shares of Blackstone in a report on Friday, January 30th. Bank of America reduced their target price on shares of Blackstone from $199.00 to $189.00 in a research note on Wednesday, December 10th. Citigroup reiterated a “market outperform” rating on shares of Blackstone in a research note on Friday, January 30th. Evercore reduced their target price on shares of Blackstone from $175.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. Finally, Argus reduced their target price on shares of Blackstone from $195.00 to $163.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Ten investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $162.10.

Blackstone Stock Performance

NYSE BX opened at $112.27 on Monday. Blackstone has a 52-week low of $101.73 and a 52-week high of $190.09. The company has a 50-day simple moving average of $120.12 and a 200 day simple moving average of $142.94. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $83.32 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 0.90 and a beta of 1.74.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.21. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The business had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter last year, the company posted $1.69 earnings per share. The firm’s quarterly revenue was up 41.4% compared to the same quarter last year. On average, research analysts predict that Blackstone will post 5.87 EPS for the current year.

Blackstone Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Monday, February 9th were paid a dividend of $1.49 per share. This is an increase from Blackstone’s previous quarterly dividend of $1.29. This represents a $5.96 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Monday, February 9th. Blackstone’s dividend payout ratio is presently 153.61%.

Insider Activity at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,504 shares of the business’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale 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 the business’s stock in a transaction that occurred on Friday, February 27th. The shares were 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. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blackstone

Hedge funds have recently bought and sold shares of the stock. REAP Financial Group LLC bought a new stake in Blackstone during the third quarter valued at approximately $26,000. Family CFO Inc bought a new stake in Blackstone during the fourth quarter valued at approximately $28,000. Ares Financial Consulting LLC bought a new stake in Blackstone during the fourth quarter valued at approximately $28,000. Richardson Financial Services Inc. bought a new stake in Blackstone during the fourth quarter valued at approximately $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Blackstone during the third quarter valued at approximately $30,000. 70.00% of the stock is currently owned by institutional investors.

Blackstone Company Profile

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.