Blackstone (NYSE:BX) Price Target Raised to $141.00

Blackstone (NYSE:BX) had its price objective increased by Barclays from $126.00 to $141.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the asset manager’s stock.

Several other equities analysts also recently weighed in on the company. Piper Sandler raised their price objective on Blackstone from $134.00 to $149.00 and gave the company an overweight rating in a research note on Friday. Bank of America lifted their price target on Blackstone from $130.00 to $145.00 and gave the stock a buy rating in a research note on Friday. Morgan Stanley raised their target price on shares of Blackstone from $144.00 to $145.00 and gave the company an overweight rating in a report on Wednesday, April 17th. JMP Securities reiterated a market perform rating on shares of Blackstone in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. reduced their target price on Blackstone from $105.00 to $100.00 and set a neutral rating on the stock in a research note on Friday, April 19th. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone has an average rating of Hold and an average target price of $126.38.

Blackstone Trading Up 1.6 %

NYSE:BX opened at $138.59 on Friday. The stock has a market capitalization of $99.04 billion, a price-to-earnings ratio of 48.97, a PEG ratio of 1.19 and a beta of 1.50. Blackstone has a 1 year low of $88.59 and a 1 year high of $142.04. The stock has a fifty day moving average price of $124.37 and a two-hundred day moving average price of $124.38. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 0.77.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the business earned $0.93 EPS. The firm’s revenue for the quarter was up 166.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Blackstone will post 4.62 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 29th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.37%. The ex-dividend date is Monday, July 29th. Blackstone’s dividend payout ratio (DPR) is presently 117.31%.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total value of $14,323,104.00. Following the completion of the transaction, the director now owns 921,184 shares in the company, valued at approximately $113,305,632. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the completion of the sale, the director now directly owns 921,184 shares in the company, valued at $113,305,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ruth Porat purchased 219 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the purchase, the director now owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BX. Northwest Financial Advisors acquired a new stake in shares of Blackstone in the 4th quarter valued at about $25,000. Chilton Capital Management LLC bought a new position in Blackstone during the 1st quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Blackstone in the 2nd quarter valued at approximately $26,000. Bourgeon Capital Management LLC lifted its stake in Blackstone by 86.2% during the fourth quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Finally, Roble Belko & Company Inc bought a new stake in Blackstone during the fourth quarter valued at $30,000. 70.00% of the stock is currently owned by institutional investors.

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.