Blackstone (NYSE:BX - Free Report) had its target price cut by Citigroup from $190.00 to $137.00 in a report issued on Tuesday,Benzinga reports. They currently have a neutral rating on the asset manager's stock.
A number of other research firms have also issued reports on BX. Keefe, Bruyette & Woods raised their price target on Blackstone from $174.00 to $177.00 and gave the stock a "market perform" rating in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a report on Friday, January 31st. JMP Securities upgraded shares of Blackstone from a "market perform" rating to a "market outperform" rating and set a $165.00 price objective on the stock in a research report on Tuesday, April 8th. UBS Group upgraded shares of Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 target price for the company in a research note on Monday, March 17th. Finally, Bank of America dropped their price target on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Blackstone currently has a consensus rating of "Hold" and an average price target of $157.22.
View Our Latest Report on BX
Blackstone Stock Performance
Shares of Blackstone stock traded down $0.26 on Tuesday, hitting $127.19. The stock had a trading volume of 7,805,964 shares, compared to its average volume of 3,689,276. The company's 50 day moving average price is $149.11 and its 200 day moving average price is $165.63. The stock has a market cap of $92.77 billion, a price-to-earnings ratio of 35.04, a P/E/G ratio of 1.07 and a beta of 1.61. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone has a 52-week low of $115.66 and a 52-week high of $200.96.
Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, research analysts anticipate that Blackstone will post 5.87 EPS for the current year.
Blackstone Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were issued a dividend of $1.44 per share. This is an increase from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 4.53%. The ex-dividend date was Monday, February 10th. Blackstone's dividend payout ratio (DPR) is 158.68%.
Insider Activity
In related news, Director Ruth Porat acquired 301 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $164.85 per share, with a total value of $49,619.85. Following the completion of the purchase, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BX. Bangor Savings Bank boosted its position in Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after acquiring an additional 105 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of Blackstone during the fourth quarter worth $28,000. Centricity Wealth Management LLC acquired a new position in Blackstone in the fourth quarter valued at $30,000. Murphy & Mullick Capital Management Corp acquired a new stake in Blackstone in the 4th quarter worth about $33,000. Finally, Berbice Capital Management LLC purchased a new stake in Blackstone in the 4th quarter valued at about $34,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.
Blackstone Company Profile
(
Get Free Report)
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.
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