Blackstone (BX) – Investment Analysts’ Recent Ratings Changes

Blackstone (NYSE: BX) has recently received a number of price target changes and ratings updates:

  • 1/29/2024 – Blackstone had its price target raised by analysts at UBS Group AG from $134.00 to $140.00. They now have a “buy” rating on the stock.
  • 1/26/2024 – Blackstone had its price target raised by analysts at JPMorgan Chase & Co. from $91.00 to $96.00. They now have a “neutral” rating on the stock.
  • 1/26/2024 – Blackstone had its price target raised by analysts at Keefe, Bruyette & Woods from $123.00 to $127.00. They now have a “market perform” rating on the stock.
  • 1/26/2024 – Blackstone had its price target raised by analysts at BMO Capital Markets from $95.00 to $101.00. They now have a “market perform” rating on the stock.
  • 1/25/2024 – Blackstone was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating.
  • 1/24/2024 – Blackstone had its price target raised by analysts at Morgan Stanley from $120.00 to $144.00. They now have an “overweight” rating on the stock.
  • 1/22/2024 – Blackstone had its price target raised by analysts at Wells Fargo & Company from $127.00 to $130.00. They now have an “overweight” rating on the stock.
  • 1/19/2024 – Blackstone was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating. They now have a $124.00 price target on the stock, up previously from $116.00.
  • 1/11/2024 – Blackstone was downgraded by analysts at Oppenheimer Holdings Inc. from an “outperform” rating to a “market perform” rating.
  • 1/4/2024 – Blackstone is now covered by analysts at TD Cowen. They set a “market perform” rating and a $118.00 price target on the stock.
  • 1/3/2024 – Blackstone was downgraded by analysts at The Goldman Sachs Group, Inc. from a “buy” rating to a “neutral” rating. They now have a $128.00 price target on the stock, up previously from $115.00.
  • 12/20/2023 – Blackstone had its “overweight” rating reaffirmed by analysts at Piper Sandler. They now have a $150.00 price target on the stock.

Blackstone Price Performance

Shares of Blackstone stock opened at $130.12 on Tuesday. Blackstone Inc. has a twelve month low of $76.19 and a twelve month high of $133.53. The stock has a market capitalization of $92.46 billion, a P/E ratio of 71.10, a PEG ratio of 3.16 and a beta of 1.52. The company has a current ratio of 0.80, a quick ratio of 0.84 and a debt-to-equity ratio of 0.67. The business’s fifty day moving average price is $123.42 and its 200 day moving average price is $110.67.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same quarter in the previous year, the firm posted $1.07 earnings per share. As a group, research analysts anticipate that Blackstone Inc. will post 4.95 earnings per share for the current year.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 12th. Shareholders of record on Monday, February 5th were paid a $0.94 dividend. This is an increase from Blackstone’s previous quarterly dividend of $0.80. This represents a $3.76 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Friday, February 2nd. Blackstone’s payout ratio is presently 205.46%.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 49,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the transaction, the insider now directly owns 393,143 shares in the company, valued at $50,294,783.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Blackstone news, CAO David Payne sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $128.21, for a total value of $705,155.00. Following the completion of the sale, the chief accounting officer now directly owns 47,781 shares in the company, valued at $6,126,002.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 49,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total value of $6,268,570.00. Following the completion of the sale, the insider now owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The disclosure for this sale can be found here. Insiders sold a total of 83,352 shares of company stock worth $10,668,224 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Blackstone by 30.2% during the 3rd quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock valued at $6,652,526,000 after purchasing an additional 14,396,655 shares during the period. Norges Bank acquired a new stake in Blackstone during the 4th quarter valued at $510,355,000. Moneta Group Investment Advisors LLC raised its stake in Blackstone by 96,256.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,790,996 shares of the asset manager’s stock valued at $429,634,000 after purchasing an additional 5,784,986 shares during the period. International Assets Investment Management LLC raised its stake in Blackstone by 13,816.5% during the 4th quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock valued at $4,744,370,000 after purchasing an additional 3,597,828 shares during the period. Finally, Northern Trust Corp raised its stake in Blackstone by 43.9% during the 3rd quarter. Northern Trust Corp now owns 6,877,288 shares of the asset manager’s stock valued at $736,833,000 after purchasing an additional 2,098,150 shares during the period. 63.35% of the stock is currently owned by institutional investors and hedge funds.

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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