Blackstone (NYSE:BX) PT Raised to $141.00 at Barclays

Blackstone (NYSE:BX) had its price objective upped by Barclays from $126.00 to $141.00 in a research note issued to investors on Friday, Benzinga reports. Barclays currently has an equal weight rating on the asset manager’s stock.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Blackstone from $105.00 to $100.00 and set a neutral rating on the stock in a report on Friday, April 19th. TD Cowen raised their price objective on Blackstone from $114.00 to $120.00 and gave the stock a hold rating in a research report on Friday. Bank of America upped their target price on Blackstone from $130.00 to $145.00 and gave the company a buy rating in a research note on Friday. UBS Group boosted their price target on shares of Blackstone from $135.00 to $138.00 and gave the company a neutral rating in a report on Friday, April 12th. Finally, Piper Sandler raised their price objective on shares of Blackstone from $134.00 to $149.00 and gave the stock an overweight rating in a report on Friday. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Blackstone has an average rating of Hold and a consensus price target of $126.38.

Blackstone Trading Up 1.6 %

Shares of NYSE:BX opened at $138.59 on Friday. Blackstone has a 52-week low of $88.59 and a 52-week high of $142.04. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 0.77. The company has a market cap of $99.04 billion, a P/E ratio of 48.97, a P/E/G ratio of 1.19 and a beta of 1.50. The stock’s 50-day moving average is $124.37 and its 200-day moving average is $124.38.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business’s quarterly revenue was up 166.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 earnings per share. Equities research analysts predict that Blackstone will post 4.62 earnings per share for the current year.

Blackstone Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 29th will be given a $0.82 dividend. The ex-dividend date is Monday, July 29th. This represents a $3.28 annualized dividend and a yield of 2.37%. Blackstone’s payout ratio is 117.31%.

Insider Transactions at Blackstone

In related news, Director Ruth Porat purchased 219 shares of Blackstone stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average price of $119.48 per share, for a total transaction of $26,166.12. Following the transaction, the director now directly owns 34,445 shares in the company, valued at $4,115,488.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the transaction, the director now owns 921,184 shares of the company’s stock, valued at $113,305,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ruth Porat acquired 219 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average price of $119.48 per share, with a total value of $26,166.12. Following the completion of the transaction, the director now owns 34,445 shares of the company’s stock, valued at $4,115,488.60. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

Several institutional investors have recently modified their holdings of BX. Moseley Investment Management Inc. increased its holdings in Blackstone by 0.7% in the second quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock valued at $1,391,000 after purchasing an additional 74 shares during the last quarter. Patrick M Sweeney & Associates Inc. raised its position in shares of Blackstone by 0.6% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock valued at $1,713,000 after acquiring an additional 80 shares during the period. Bay Rivers Group grew its holdings in Blackstone by 0.4% during the first quarter. Bay Rivers Group now owns 19,853 shares of the asset manager’s stock valued at $2,608,000 after purchasing an additional 84 shares during the period. BSW Wealth Partners raised its holdings in Blackstone by 1.9% in the first quarter. BSW Wealth Partners now owns 4,556 shares of the asset manager’s stock worth $599,000 after purchasing an additional 84 shares during the period. Finally, Mather Group LLC. grew its holdings in shares of Blackstone by 1.2% in the 1st quarter. Mather Group LLC. now owns 7,113 shares of the asset manager’s stock valued at $931,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.