JPMorgan Chase & Co. Cuts Blackstone (NYSE:BX) Price Target to $132.00

Blackstone (NYSE:BX) had its target price cut by JPMorgan Chase & Co. from $136.00 to $132.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Several other research firms have also recently issued reports on BX. Oppenheimer lifted their price objective on shares of Blackstone from $154.00 to $156.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Zacks Research raised Blackstone from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Jefferies Financial Group increased their price objective on Blackstone from $143.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Morgan Stanley decreased their target price on Blackstone from $215.00 to $184.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Finally, TD Cowen dropped their price target on shares of Blackstone from $140.00 to $133.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.52.

Blackstone Stock Performance

Shares of BX opened at $126.96 on Thursday. Blackstone has a 1 year low of $101.73 and a 1 year high of $190.09. The stock has a market capitalization of $94.32 billion, a PE ratio of 32.47, a PEG ratio of 1.37 and a beta of 1.58. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a 50-day simple moving average of $119.92 and a 200-day simple moving average of $125.90.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter last year, the company earned $1.11 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, analysts predict that Blackstone will post 5.89 earnings per share for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were given a dividend of $1.16 per share. The ex-dividend date was Monday, May 4th. This represents a $4.64 dividend on an annualized basis and a dividend yield of 3.7%. Blackstone’s dividend payout ratio (DPR) is 118.67%.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Treasury Holdings I. Blackstone purchased 9,486,795 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average price of $20.00 per share, for a total transaction of $189,735,900.00. Following the purchase, the insider directly owned 9,111,800 shares in the company, valued at approximately $182,236,000. This trade represents a -2,529.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ruth Porat acquired 355 shares of the company’s stock in a transaction on Monday, May 11th. The stock was acquired 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 owned 41,818 shares of the company’s stock, valued at $5,145,286.72. This trade represents a 0.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 10,252,345 shares of company stock worth $209,789,893 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BX. Family CFO Inc acquired a new position in Blackstone in the 4th quarter valued at $28,000. Ares Financial Consulting LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at about $28,000. Richardson Financial Services Inc. acquired a new position in shares of Blackstone during the fourth quarter worth about $29,000. Strive Asset Management LLC acquired a new stake in Blackstone in the third quarter valued at about $30,000. Finally, Palladiem LLC purchased a new stake in Blackstone in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone News Roundup

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone is expanding its alternatives platform in Asia-Pacific by launching a new India infrastructure platform and hiring Ami Momaya from KKR to lead the effort, a move that could support long-term growth in the region. Blackstone creates new APAC infrastructure platform, hires Momaya from KKR
• Positive Sentiment: Blackstone is also tied to the launch of Ode, an AI services company developed with Anthropic and other investors, which reinforces the firm’s exposure to AI and infrastructure investing themes. Is Blackstone (BX) Quietly Rewriting Its AI and Infrastructure Playbook With Ode and India?
• Positive Sentiment: Several commentary pieces say Blackstone remains positioned to beat upcoming earnings estimates, with Wall Street expecting earnings growth and the company cited for strong earnings and price momentum. Why Blackstone Inc. (BX) is Poised to Beat Earnings Estimates Again
• Neutral Sentiment: JPMorgan lowered its price target on Blackstone to $132 from $136 but kept a neutral rating, signaling a more cautious near-term outlook rather than a bearish call. Blackstone price target lowered by JPMorgan
• Neutral Sentiment: Oppenheimer also cut its price target to $139 from $156, though it maintained an outperform rating, suggesting analysts still see upside from current levels despite trimming expectations. Blackstone price target lowered by Oppenheimer
• Negative Sentiment: The recent target cuts from major brokers may be weighing on sentiment today, even though both firms still see upside and have not turned outright bearish on Blackstone.

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.