Blackstone’s (BX) Market Outperform Rating Reiterated at Citizens Jmp

Citizens Jmp restated their market outperform rating on shares of Blackstone (NYSE:BX) in a research note issued to investors on Friday morning,Benzinga reports. Citizens Jmp currently has a $195.00 target price on the asset manager’s stock.

A number of other equities analysts have also weighed in on BX. Morgan Stanley boosted their price target on shares of Blackstone from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. BNP Paribas Exane reduced their target price on Blackstone from $167.00 to $156.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Jefferies Financial Group reduced their price objective on shares of Blackstone from $187.00 to $185.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. BMO Capital Markets reduced their price target on shares of Blackstone from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. Finally, JMP Securities restated a “market outperform” rating and set a $195.00 target price on shares of Blackstone in a report on Friday, October 24th. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Blackstone has an average rating of “Hold” and an average target price of $176.86.

Blackstone Price Performance

Shares of BX opened at $142.35 on Friday. The company has a 50 day moving average price of $153.03 and a 200-day moving average price of $160.78. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.75 and a current ratio of 0.76. The stock has a market capitalization of $105.12 billion, a PE ratio of 36.69, a PEG ratio of 1.01 and a beta of 1.76. Blackstone has a fifty-two week low of $115.66 and a fifty-two week high of $190.09.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.21. The firm had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The company’s revenue for the quarter was up 41.4% compared to the same quarter last year. During the same period last year, the business posted $1.69 earnings per share. Equities analysts predict that Blackstone will post 5.87 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, February 9th will be paid a dividend of $1.49 per share. This is a boost from Blackstone’s previous quarterly dividend of $1.29. This represents a $5.96 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Monday, February 9th. Blackstone’s payout ratio is 132.99%.

Insider Transactions at Blackstone

In related news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the completion of the sale, the insider owned 2,161 shares of the company’s stock, valued at $21,610. This represents a 99.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Breyer acquired 13,900 shares of Blackstone stock in a transaction dated Tuesday, November 4th. The shares were acquired at an average price of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the transaction, the director owned 68,906 shares of the company’s stock, valued at approximately $9,912,817.16. This trade represents a 25.27% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 783,978 shares of company stock valued at $22,058,454. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in Blackstone during the second quarter valued at approximately $1,071,348,000. Vanguard Group Inc. grew its position in Blackstone by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock worth $10,394,670,000 after purchasing an additional 1,494,796 shares during the last quarter. Close Asset Management Ltd raised its position in shares of Blackstone by 16,035.1% during the third quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock valued at $194,746,000 after buying an additional 1,133,197 shares during the last quarter. Lazard Asset Management LLC grew its position in Blackstone by 31.9% during the second quarter. Lazard Asset Management LLC now owns 3,803,344 shares of the asset manager’s stock worth $568,902,000 after buying an additional 919,773 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Blackstone by 115.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,088,786 shares of the asset manager’s stock valued at $162,861,000 after acquiring an additional 583,384 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone News Summary

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Q4 beat — Blackstone reported EPS of $1.75 and revenue of $4.36B, both topping estimates; record AUM and large inflows underpinned results and demonstrate momentum in deals, fees and infrastructure. Read More.
• Positive Sentiment: Dividend hike — BX declared a quarterly dividend of $1.49 (15.5% increase vs. prior quarter), implying a ~4.2% yield and signaling management confidence and stronger cash return to shareholders. (Company release)
• Positive Sentiment: Bullish analyst notes — TD Cowen reaffirmed a “buy” and set a $183 target; Citizens Jmp kept a “market outperform” with a $195 target, both signaling sizable upside from current levels. Read More.
• Neutral Sentiment: Management/sector commentary — Blackstone highlighted AI-related investment as a major economic driver and continues to signal interest in data-center and infrastructure opportunities, which is strategic but longer-term. Read More.
• Neutral Sentiment: Investor event scheduled — CFO Michael Chae will present at the BofA Financial Services Conference on Feb 10; investors should watch the webcast for additional color on capital deployment and fee trends. Read More.
• Negative Sentiment: Analyst target cuts to neutral — JPMorgan trimmed its target from $176 to $158 and moved to “neutral,” signaling less conviction on near-term upside. Read More.
• Negative Sentiment: Goldman trims target — Goldman cut its PT from $166 to $158 and maintained a “neutral” stance, adding to the pushback from some sell-side desks despite the beat. Read More.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.