Blackstone Inc. (NYSE:BX – Get Rating) has been given a consensus rating of “Moderate Buy” by the eighteen research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $102.70.
Several research firms have recently issued reports on BX. TheStreet cut shares of Blackstone from a “b-” rating to a “c+” rating in a research report on Tuesday, May 9th. StockNews.com initiated coverage on Blackstone in a report on Thursday, May 18th. They issued a “sell” rating for the company. The Goldman Sachs Group boosted their target price on shares of Blackstone from $86.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, January 30th. Piper Sandler cut their price objective on shares of Blackstone from $111.00 to $107.00 and set an “overweight” rating on the stock in a report on Friday, April 21st. Finally, Citigroup began coverage on Blackstone in a research report on Thursday, May 18th. They issued a “buy” rating and a $98.00 target price on the stock.
Insider Buying and Selling
In other news, major shareholder Holdings L.P. Blackstone III bought 27,082 shares of the stock in a transaction that occurred on Wednesday, March 29th. The stock was bought at an average cost of $47.11 per share, for a total transaction of $1,275,833.02. Following the acquisition, the insider now directly owns 18,535 shares of the company’s stock, valued at approximately $873,183.85. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Joseph Baratta sold 85,000 shares of the firm’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $86.32, for a total transaction of $7,337,200.00. Following the sale, the director now owns 1,145,448 shares of the company’s stock, valued at approximately $98,875,071.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Holdings L.P. Blackstone III acquired 27,082 shares of the stock in a transaction on Wednesday, March 29th. The shares were acquired at an average cost of $47.11 per share, for a total transaction of $1,275,833.02. Following the completion of the transaction, the insider now directly owns 18,535 shares in the company, valued at approximately $873,183.85. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 10,950,343 shares of company stock valued at $18,741,735 and sold 140,632,216 shares valued at $1,725,831,950. Corporate insiders own 1.00% of the company’s stock.
Hedge Funds Weigh In On Blackstone
Blackstone Stock Performance
Shares of NYSE BX opened at $83.53 on Friday. The firm’s 50-day moving average price is $84.64 and its 200-day moving average price is $86.18. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.72. The company has a market cap of $58.98 billion, a PE ratio of 101.87, a PEG ratio of 1.35 and a beta of 1.50. Blackstone has a 52-week low of $71.72 and a 52-week high of $123.18.
Blackstone (NYSE:BX – Get Rating) last posted its quarterly earnings data on Thursday, April 20th. The asset manager reported $0.97 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.97. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $2.44 billion. Blackstone had a net margin of 12.92% and a return on equity of 18.51%. The firm’s revenue was down 73.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.55 earnings per share. As a group, analysts anticipate that Blackstone will post 4.3 EPS for the current year.
Blackstone Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 8th. Investors of record on Monday, May 1st were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend was Friday, April 28th. Blackstone’s payout ratio is 400.00%.
Blackstone, Inc engages in the provision of investment and fund management services. It operates through the following segments: Real Estate, Private Equity, Credit and Insurance, and Hedge Fund Solutions. The Real Estate segment includes management of opportunistic real estate funds, Core+ real estate funds, high-yield real estate debt funds, and liquid real estate debt funds.
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