Blackstone Inc. (NYSE:BX) Receives $169.13 Consensus PT from Brokerages

Blackstone Inc. (NYSE:BX) has earned an average rating of “Hold” from the nineteen analysts that are presently covering the stock, MarketBeat Ratings reports. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $171.00.

BX has been the subject of a number of recent research reports. Morgan Stanley upped their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. BMO Capital Markets increased their price objective on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Redburn Atlantic assumed coverage on Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Blackstone from $169.00 to $175.00 and gave the company a “market perform” rating in a research note on Friday.

Insiders Place Their Bets

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the sale, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Trading of Blackstone

A number of large investors have recently made changes to their positions in the company. West Financial Advisors LLC bought a new position in Blackstone in the third quarter valued at approximately $27,000. Ridgewood Investments LLC acquired a new position in Blackstone in the 2nd quarter worth $31,000. Hantz Financial Services Inc. acquired a new stake in shares of Blackstone in the 2nd quarter valued at about $37,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Blackstone during the second quarter worth about $39,000. Finally, Raleigh Capital Management Inc. raised its position in Blackstone by 32.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock valued at $39,000 after buying an additional 62 shares during the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Up 0.8 %

NYSE:BX opened at $172.19 on Friday. Blackstone has a 1-year low of $114.88 and a 1-year high of $200.96. The firm has a market capitalization of $124.32 billion, a price-to-earnings ratio of 59.17, a PEG ratio of 1.63 and a beta of 1.51. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The business’s fifty day moving average price is $178.82 and its 200 day moving average price is $151.57.

Blackstone (NYSE:BX) last released its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.37 billion. On average, sell-side analysts forecast that Blackstone will post 4.43 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a dividend of $0.86 per share. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.00%. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s dividend payout ratio is presently 118.21%.

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.