Blackstone Inc. (NYSE:BX) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Blackstone Inc. (NYSE:BXGet Free Report) have received a consensus recommendation of “Hold” from the eighteen ratings firms that are currently covering the stock, MarketBeat.com reports. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $123.65.

BX has been the topic of several recent analyst reports. Argus lifted their target price on shares of Blackstone from $133.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. JPMorgan Chase & Co. lowered their price target on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Piper Sandler lowered their price target on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. Finally, UBS Group boosted their target price on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a report on Friday, April 12th.

Get Our Latest Research Report on Blackstone

Blackstone Stock Performance

Shares of BX opened at $119.78 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a 50-day moving average of $122.87 and a 200-day moving average of $123.48. The company has a market cap of $85.60 billion, a PE ratio of 42.33, a P/E/G ratio of 0.98 and a beta of 1.53. Blackstone has a one year low of $87.40 and a one year high of $133.56.

Blackstone (NYSE:BXGet Free Report) last released its quarterly earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.98. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.56 billion. Blackstone had a return on equity of 17.33% and a net margin of 20.84%. The company’s quarterly revenue was up 166.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 EPS. On average, equities research analysts predict that Blackstone will post 4.77 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Monday, April 29th were given a dividend of $0.83 per share. The ex-dividend date was Friday, April 26th. This represents a $3.32 annualized dividend and a yield of 2.77%. Blackstone’s payout ratio is 117.31%.

Insider Buying and Selling at Blackstone

In other Blackstone news, Director Ruth Porat purchased 219 shares of the business’s stock in a transaction on Monday, May 6th. The stock was acquired at an average cost of $119.48 per share, for a total transaction of $26,166.12. Following the completion of the transaction, the director now directly owns 34,445 shares in the company, valued at approximately $4,115,488.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

Several hedge funds and other institutional investors have recently modified their holdings of BX. WealthPlan Investment Management LLC raised its stake in shares of Blackstone by 914.4% during the third quarter. WealthPlan Investment Management LLC now owns 21,697 shares of the asset manager’s stock valued at $2,325,000 after acquiring an additional 19,558 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Blackstone by 11.7% in the third quarter. Assenagon Asset Management S.A. now owns 15,059 shares of the asset manager’s stock worth $1,613,000 after buying an additional 1,583 shares in the last quarter. Keybank National Association OH raised its stake in Blackstone by 84.8% in the third quarter. Keybank National Association OH now owns 13,112 shares of the asset manager’s stock worth $1,405,000 after buying an additional 6,015 shares in the last quarter. Dorsey & Whitney Trust CO LLC bought a new position in Blackstone in the third quarter worth about $252,000. Finally, Spire Wealth Management raised its stake in Blackstone by 5.2% in the third quarter. Spire Wealth Management now owns 31,109 shares of the asset manager’s stock worth $3,333,000 after buying an additional 1,537 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

Blackstone Company Profile

(Get Free Report

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.

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Analyst Recommendations for Blackstone (NYSE:BX)

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