Analysts Set Blackstone Inc. (NYSE:BX) Price Target at $150.86

Blackstone Inc. (NYSE:BX) has been given a consensus rating of “Moderate Buy” by the twenty-five ratings firms that are currently covering the firm, MarketBeat Ratings reports. Twelve investment analysts have rated the stock with a hold rating and thirteen 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 $150.8636.

Several equities research analysts have recently issued reports on BX shares. Oppenheimer raised their price objective on Blackstone from $154.00 to $156.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. The Goldman Sachs Group decreased their price objective on Blackstone from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Argus decreased their price objective on Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a report on Tuesday, April 28th. Zacks Research upgraded Blackstone from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Finally, Rothschild & Co Redburn reduced their target price on Blackstone from $134.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, June 9th.

Insider Activity

In other Blackstone news, Director Ruth Porat bought 355 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $123.04 per share, with a total value of $43,679.20. Following the transaction, the director owned 41,818 shares in the company, valued at $5,145,286.72. This trade represents a 0.86% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $20.00 per share, with a total value of $189,735,900.00. Following the transaction, the insider owned 9,111,800 shares in the company, valued at approximately $182,236,000. This represents a -2,529.85% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 10,252,345 shares of company stock worth $209,789,893. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Blackstone by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock worth $11,046,859,000 after purchasing an additional 840,258 shares in the last quarter. Morgan Stanley lifted its stake in shares of Blackstone by 2.0% during the fourth quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager’s stock worth $5,065,374,000 after purchasing an additional 636,613 shares in the last quarter. State Street Corp lifted its stake in shares of Blackstone by 0.6% during the fourth quarter. State Street Corp now owns 31,542,009 shares of the asset manager’s stock worth $4,861,885,000 after purchasing an additional 179,213 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Blackstone by 3.4% during the first quarter. Bank of America Corp DE now owns 11,538,067 shares of the asset manager’s stock worth $1,326,762,000 after purchasing an additional 384,264 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Blackstone during the fourth quarter worth about $1,275,747,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

Shares of NYSE:BX opened at $115.66 on Wednesday. The business’s fifty day moving average price is $120.62 and its two-hundred day moving average price is $129.22. The stock has a market cap of $85.92 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 1.24 and a beta of 1.59. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. Blackstone has a one year low of $101.73 and a one year high of $190.09.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The business had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter last year, the firm earned $1.11 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. On average, analysts forecast that Blackstone will post 5.9 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a dividend of $1.16 per share. This represents a $4.64 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Monday, May 4th. Blackstone’s dividend payout ratio is 118.67%.

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.