Blackstone (NYSE:BX) Trading Down 5.8% – Time to Sell?

Shares of Blackstone Inc. (NYSE:BX) fell 5.8% during mid-day trading on Wednesday . The stock traded as low as $155.75 and last traded at $153.1610. 1,325,006 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 2,724,997 shares. The stock had previously closed at $162.65.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Blackstone from $164.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. JPMorgan Chase & Co. reduced their target price on Blackstone from $177.00 to $176.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Bank of America lowered their price target on Blackstone from $199.00 to $189.00 in a report on Wednesday, December 10th. BNP Paribas Exane decreased their target price on Blackstone from $178.00 to $167.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th. Ten investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.95.

Blackstone Stock Down 4.4%

The stock’s fifty day simple moving average is $149.09 and its two-hundred day simple moving average is $160.81. The stock has a market capitalization of $114.84 billion, a P/E ratio of 44.38, a price-to-earnings-growth ratio of 1.14 and a beta of 1.75. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.75 and a current ratio of 0.75.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 EPS for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The company had revenue of $2.49 billion for the quarter. As a group, research analysts expect that Blackstone Inc. will post 5.87 EPS for the current fiscal year.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were given a $1.29 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Monday, November 3rd. This represents a $5.16 annualized dividend and a dividend yield of 3.3%. Blackstone’s dividend payout ratio is 147.43%.

Insiders Place Their Bets

In related news, Director Ruth Porat bought 324 shares of the company’s stock in a transaction on Monday, November 10th. The shares were purchased at an average cost of $146.92 per share, for a total transaction of $47,602.08. Following the completion of the purchase, the director directly owned 39,077 shares in the company, valued at $5,741,192.84. The trade was a 0.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James Breyer purchased 13,900 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was bought at an average cost of $143.86 per share, for a total transaction of $1,999,654.00. Following the acquisition, the director directly owned 68,906 shares in the company, valued at $9,912,817.16. This trade represents a 25.27% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 797,148 shares of company stock valued at $24,050,153. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

Institutional investors have recently made changes to their positions in the stock. REAP Financial Group LLC purchased a new stake in Blackstone during the 3rd quarter worth about $26,000. Traub Capital Management LLC bought a new position in shares of Blackstone in the second quarter valued at approximately $27,000. Anderson Financial Strategies LLC bought a new stake in Blackstone during the 1st quarter worth approximately $28,000. Family CFO Inc bought a new position in Blackstone in the 2nd quarter valued at $28,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Blackstone during the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Company Profile

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.