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

Shares of Blackstone Inc. (NYSE:BX) have been given an average recommendation of “Hold” by the nineteen brokerages that are covering the stock, Marketbeat.com reports. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $130.78.

Several brokerages recently weighed in on BX. Redburn Atlantic began coverage on shares of Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective on the stock. TD Cowen increased their price objective on Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a report on Friday, July 19th. Bank of America boosted their price target on Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Piper Sandler raised their price target on Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company began coverage on shares of Blackstone in a research note on Thursday, September 12th. They set an “overweight” rating and a $163.00 target price on the stock.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 921,184 shares of the company’s stock, valued at $113,305,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 921,184 shares in the company, valued at approximately $113,305,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Chilton Capital Management LLC bought a new position in shares of Blackstone during the 1st quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Blackstone during the 2nd quarter worth about $26,000. EdgeRock Capital LLC acquired a new position in shares of Blackstone during the 2nd quarter valued at about $27,000. Bank & Trust Co bought a new stake in Blackstone during the second quarter worth approximately $29,000. Finally, Scarborough Advisors LLC acquired a new position in Blackstone during the fourth quarter valued at approximately $32,000. 70.00% of the stock is owned by institutional investors and hedge funds.

Blackstone Trading Down 0.1 %

NYSE BX opened at $154.93 on Thursday. The firm has a market capitalization of $110.72 billion, a PE ratio of 54.75, a price-to-earnings-growth ratio of 1.23 and a beta of 1.51. Blackstone has a one year low of $88.59 and a one year high of $157.76. The company has a 50-day simple moving average of $138.34 and a 200-day simple moving average of $128.90. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the business posted $0.93 EPS. The company’s revenue for the quarter was up 166.9% on a year-over-year basis. On average, equities analysts forecast that Blackstone will post 4.57 earnings per share for the current year.

Blackstone Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 5th. Stockholders of record on Monday, July 29th were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Monday, July 29th. Blackstone’s dividend payout ratio (DPR) is presently 115.90%.

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.