Blackstone Inc. (NYSE: BX – Get Rating) ‘s share price hit a new 52-week low during trading on Thursday after the Goldman Sachs Group lowered their price target on the stock from $ 136.00 to $ 112.00. The Goldman Sachs Group currently has a buy rating on the stock. Blackstone traded as low as $ 86.99 and last traded at $ 87.66, with a volume of 26748 shares. The stock had closed yesterday at $ 91.07.
Several other analysts also recently commented on BX. StockNews.com assumed coverage on Blackstone in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Morgan Stanley dropped their price objective on Blackstone from $ 166.00 to $ 154.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on Blackstone from $ 182.00 to $ 180.00 in a research note on Thursday, May 19th. Citigroup dropped their price objective on Blackstone from $ 132.50 to $ 117.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 12th. Finally, Exane BNP Paribas downgraded Blackstone from an “outperform” rating to a “neutral” rating in a research note on Thursday, April 7th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $ 138.36.
In other news, major shareholder Holdings LP Blackstone III sold 4,236 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $ 100.11, for a total value of $ 424,065.96. Following the completion of the transaction, the insider now owns 1,311,663 shares in the company, valued at approximately $ 131,310,582.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ruth Porat acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, April 27th. The stock was bought at an average price of $ 109.69 per share, with a total value of $ 548,450.00. Following the acquisition, the director now directly owns 15,942 shares in the company, valued at $ 1,748,677.98. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 2,514,376 shares of company stock valued at $ 11,553,227 and sold 514,450 shares valued at $ 27,576,536. 1.00% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of BX. Financial Advantage Inc. bought a new position in Blackstone during the first quarter worth about $ 26,000. Western Pacific Wealth Management LP bought a new position in Blackstone during the fourth quarter worth about $ 27,000. Landmark Wealth Management LLC bought a new position in Blackstone during the first quarter worth about $ 27,000. Providence Capital Advisors LLC grew its holdings in Blackstone by 1,137.6% during the first quarter. Providence Capital Advisors LLC now owns 2,995 shares of the asset manager’s stock worth $ 31,000 after purchasing an additional 2,753 shares during the period. Finally, Citizens National Bank Trust Department bought a new position in Blackstone during the fourth quarter worth about $ 39,000. Institutional investors and hedge funds own 63.68% of the company’s stock.
The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.41. The firm has a market cap of $ 63.93 billion, a P / E ratio of 12.43, a PEG ratio of 1.05 and a beta of 1.37. The business has a fifty day moving average of $ 105.16 and a 200 day moving average of $ 116.27.
Blackstone (NYSE: BX – Get Rating) last posted its quarterly earnings results on Thursday, April 21st. The asset manager reported $ 1.55 EPS for the quarter, topping analysts’ consensus estimates of $ 1.08 by $ 0.47. The business had revenue of $ 5.13 billion during the quarter, compared to analysts’ expectations of $ 2.54 billion. Blackstone had a return on equity of 18.77% and a net margin of 23.77%. Blackstone’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the company posted $ 0.96 earnings per share. Research analysts expect Blackstone Inc. will post 5.71 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 9th. Shareholders of record on Monday, May 2nd were given a dividend of $ 1.32 per share. The ex-dividend date of this dividend was Friday, April 29th. This is an increase from Blackstone’s previous quarterly dividend of $ 0.93. This represents a $ 5.28 annualized dividend and a yield of 5.79%. Blackstone’s dividend payout ratio (DPR) is 71.93%.
Blackstone Company Profile (NYSE: BX)
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 provides capital markets services.
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