The Goldman Sachs Group Cuts Blackstone (NYSE:BX) Price Target to $158.00

Blackstone (NYSE:BX) had its price target cut by The Goldman Sachs Group from $166.00 to $158.00 in a report issued on Friday,MarketScreener reports. They currently have a neutral rating on the asset manager’s stock.

Several other equities analysts have also commented on the stock. Bank of America lowered their price objective on shares of Blackstone from $199.00 to $189.00 in a research report on Wednesday, December 10th. HSBC reduced their price objective on Blackstone from $178.00 to $174.00 and set a “hold” rating on the stock in a research note on Wednesday, January 28th. Citigroup reissued a “market outperform” rating on shares of Blackstone in a research report on Friday. Rothschild & Co Redburn reduced their target price on shares of Blackstone from $168.00 to $165.00 and set a “neutral” rating on the stock in a research note on Thursday, January 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $164.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Ten analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $176.86.

Blackstone Price Performance

BX stock opened at $142.35 on Friday. 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 company has a market capitalization of $105.12 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 1.01 and a beta of 1.76. The company’s fifty day moving average price is $153.03 and its 200-day moving average price is $160.78. Blackstone has a one year low of $115.66 and a one year high of $190.09.

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

Blackstone Increases Dividend

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

Insider Buying and Selling at Blackstone

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone purchased 385,208 shares of Blackstone stock in a transaction dated Friday, November 21st. The shares were acquired at an average cost of $25.96 per share, with a total value of $9,999,999.68. Following the completion of the transaction, the insider owned 16,332,883 shares in the company, valued at approximately $424,001,642.68. This trade represents a 2.42% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of Blackstone stock in a transaction that occurred on Thursday, December 4th. The stock was 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 trade represents a 99.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders purchased 783,978 shares of company stock worth $22,058,454. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Blackstone

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

Key Blackstone News

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.