JPMorgan Chase & Co. Cuts Blackstone (NYSE:BX) Price Target to $158.00

Blackstone (NYSE:BX) had its target price cut by JPMorgan Chase & Co. from $176.00 to $158.00 in a report released on Friday, Marketbeat reports. They currently have a neutral rating on the asset manager’s stock.

A number of other brokerages have also recently weighed in on BX. Citizens Jmp reiterated a “market outperform” rating and issued a $195.00 price target on shares of Blackstone in a research report on Friday. 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 report on Monday, January 12th. Bank of America cut their price objective on Blackstone from $199.00 to $189.00 in a research report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft lifted their price target on Blackstone from $164.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Finally, TD Cowen dropped their price objective on shares of Blackstone from $205.00 to $183.00 and set a “buy” rating for the company in a research report on Wednesday, January 14th. Ten analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, Blackstone currently has an average rating of “Hold” and a consensus price target of $176.86.

Blackstone Trading Down 0.4%

Shares of NYSE BX opened at $142.35 on Friday. The stock has a market cap of $105.12 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 1.01 and a beta of 1.76. The business has a 50 day simple moving average of $153.03 and a 200 day simple moving average 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. Blackstone has a 52 week low of $115.66 and a 52 week high of $190.09.

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

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 9th will be paid a $1.49 dividend. This is a boost from Blackstone’s previous quarterly dividend of $1.29. The ex-dividend date is Monday, February 9th. This represents a $5.96 dividend on an annualized basis and a yield of 4.2%. Blackstone’s dividend payout ratio (DPR) is currently 132.99%.

Insider Activity at Blackstone

In other Blackstone news, Director Ruth Porat bought 324 shares of Blackstone stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $146.92 per share, with a total value of $47,602.08. Following the completion of the transaction, the director owned 39,077 shares in the company, valued at $5,741,192.84. The trade was a 0.84% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone purchased 385,208 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was bought at an average price of $25.96 per share, for a total transaction of $9,999,999.68. Following the transaction, the insider directly owned 16,332,883 shares of the company’s stock, valued at $424,001,642.68. This trade represents a 2.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 783,978 shares of company stock valued at $22,058,454 in the last 90 days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. REAP Financial Group LLC bought a new position in Blackstone in the third quarter worth approximately $26,000. Traub Capital Management LLC bought a new stake in Blackstone during the 2nd quarter valued at $27,000. Family CFO Inc bought a new position in shares of Blackstone in the second quarter valued at approximately $28,000. Ares Financial Consulting LLC purchased a new stake in shares of Blackstone in the fourth quarter valued at about $28,000. Finally, Richardson Financial Services Inc. bought a new stake in Blackstone during the fourth quarter worth $29,000. Institutional investors own 70.00% of the company’s stock.

Trending Headlines about Blackstone

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.

Blackstone Company Profile

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.