Blackstone Inc. (NYSE:BX) Given Average Rating of “Moderate Buy” by Analysts

by · The Markets Daily

Shares of Blackstone Inc. (NYSE:BXGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the twenty-four brokerages that are currently covering the stock, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $145.7143.

Several research analysts have recently weighed in on BX shares. Royal Bank Of Canada cut their price target on Blackstone from $173.00 to $161.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. BMO Capital Markets boosted their price target on shares of Blackstone from $126.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. Piper Sandler raised their price objective on shares of Blackstone from $122.00 to $130.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, Barclays lowered their target price on shares of Blackstone from $124.00 to $119.00 and set an “equal weight” rating on the stock in a report on Thursday, July 9th.

Check Out Our Latest Analysis on BX

Insider Buying and Selling at Blackstone

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $3.78, for a total transaction of $28,264,950.00. Following the completion of the transaction, the insider owned 19,374 shares of the company’s stock, valued at approximately $73,233.72. The trade was a 99.74% 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, Director Ruth Porat bought 355 shares of the stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $123.04 per share, for a total transaction of $43,679.20. Following the completion of the purchase, the director directly owned 41,818 shares in the company, valued at approximately $5,145,286.72. This represents a 0.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 10,252,345 shares of company stock worth $209,789,893. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Blackstone

Several large investors have recently added to or reduced their stakes in the business. Strive Asset Management LLC bought a new stake in shares of Blackstone during the 3rd quarter valued at about $30,000. Family CFO Inc purchased a new stake in Blackstone in 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. purchased a new position in Blackstone in the 4th quarter worth approximately $29,000. Finally, Kelleher Financial Advisors purchased a new stake in shares of Blackstone during the 3rd quarter valued at $34,000. Institutional investors own 70.00% of the company’s stock.

Key Blackstone News

Here are the key news stories impacting Blackstone this week:

Blackstone Trading Up 1.5%

Shares of BX stock opened at $124.67 on Friday. Blackstone has a 12-month low of $101.73 and a 12-month high of $190.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $120.10 and a 200-day moving average of $124.81. The firm has a market cap of $92.61 billion, a P/E ratio of 31.88, a PEG ratio of 1.33 and a beta of 1.58.

Blackstone (NYSE:BXGet Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.18. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.Blackstone’s revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. Sell-side analysts anticipate that Blackstone will post 5.85 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be issued a dividend of $1.29 per share. This is a positive change from Blackstone’s previous quarterly dividend of $1.16. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $5.16 dividend on an annualized basis and a yield of 4.1%. Blackstone’s payout ratio is currently 118.67%.

Blackstone Company Profile

(Get Free Report)

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.

Further Reading