In yesterday’s Wall Street session, Blackstone Inc. (NYSE:BX) shares traded at $104.39, up 0.35% from the previous session.
22 analysts cover Blackstone Inc. (NYSE:BX), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $116.00 and a low of $85.00, we find $103.50. Given the previous closing price of $104.03, this indicates a potential downside of -0.51 percent. BX stock price is now 18.24% away from the 50-day moving average and 19.51% away from the 200-day moving average. The market capitalization of the company currently stands at $125.51B.
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The stock has received a hold rating from 5 analysts and a buy rating from 15. Brokers who have rated the stock have averaged $103.83 as their price target over the next twelve months.
With the price target of $98, Citigroup recently initiated with Buy rating for Blackstone Inc. (NYSE: BX).
In other news, Baratta Joseph, Director sold 85,000 shares of the company’s stock on Jul 05. The stock was sold for $7,911,975 at an average price of $93.08. Upon completion of the transaction, the Director now directly owns 1,060,448 shares in the company, valued at $110.7 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 15, Blackstone Multi-Asset Direct sold 3,000,000 shares of the business’s stock. A total of $25,500,000 was realized by selling the stock at an average price of $8.50. Insiders disposed of 331,404 shares of company stock worth roughly $34.6 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BX stock. A new stake in Blackstone Inc. shares was purchased by ARGENT CAPITAL MANAGEMENT LLC during the first quarter worth $64,579,000. LIONTRUST INVESTMENT PARTNERS LLP invested $10,439,000 in shares of BX during the first quarter. In the first quarter, Q GLOBAL ADVISORS, LLC acquired a new stake in Blackstone Inc. valued at approximately $9,969,000. ALLEN CAPITAL GROUP, LLC acquired a new stake in BX for approximately $7,840,000. L & S ADVISORS INC purchased a new stake in BX valued at around $5,641,000 in the second quarter. In total, there are 1,923 active investors with 64.50% ownership of the company’s stock.
During the past 12 months, Blackstone Inc. has had a low of $71.72 and a high of $110.44. The fifty day moving average price for BX is $88.71 and a two-hundred day moving average price translates $87.50 for the stock.
The latest earnings results from Blackstone Inc. (NYSE: BX) was released for Mar, 2023. According to the Asset Management Company, earnings per share came in at $0.97, beating analysts’ expectations of $0.96 by 0.01. This compares to $1.66 EPS in the same period last year. The net profit margin was 12.90% and return on equity was 8.00% for BX. The company reported revenue of $1.38 billion for the quarter, compared to $5.13 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -73.04 percent. For the current quarter, analysts expect BX to generate $2.41B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/08/2023. Investors who held shares on 05/01/2023 were paid a $0.82 dividend. On an annualized basis, this represents a $3.90 dividend and a 3.74% percent yield. There was an ex-dividend date of 04/28/2023 for this dividend. In terms of dividend payout ratio, BX is presently at 531.70%.
