Blackstone Inc. (NYSE:BX) has been at the focal point of the finance world as of late, receiving a “Moderate Buy” rating from 18 research firms covering the company. Of those firms, ten have assigned a buy rating, three have given a hold rating and two rate Blackstone stock with a sell rating. This broad coverage and market sentiment is likely attributed to Blackstone’s recent quarterly dividend payout, which amounts to $3.28 on an annualized basis, carrying a dividend yield of 3.93%.
Those familiar with Blackstone’s portfolio holdings will recognize that they specialize in alternative investments such as hedge funds, private equity or real estate investments. With its large stake in institutional engagement in those types of products and services, various institutional investors possess stakes in the firm that range from moderate to substantial.
Over the past quarters we have seen some moves among institutional investors either adding or reducing their overall stake in BX shares – with minor increases based on additional purchases such as from Obermeyer Wood Investment Counsel Lllp through May 16th increasing by up to 2%, while holding steady in mid-level changes for other funds such as Strategic Blueprint LLC.
Through it all there is an average price objective among brokerages who regularly publish stock analysis on how they perceive the stock should perform which hovers around $102.70 per share; however this may shift given changing market conditions and news about Blackstone’s existing and future investments.
Overall though, current shareholders appear to be rewarded quite handsomely through generous dividends and an excellent balance sheet representing an intrinsic investment currently enticing curious finance professionals looking for opportunities to invest into tax efficient methods not linked to main benchmarks like stocks or bonds.
Blackstone’s Ratings and Insider Transactions in Recent Reports and Studies
Blackstone, a leading asset management firm, has recently been the subject of several reports and studies by research firms. On May 9th, TheStreet downgraded Blackstone’s rating from “b-” to “c+,” while on May 18th, StockNews.com initiated coverage of the firm and issued a “sell” rating. However, these negative assessments were counterbalanced by positive reports from Goldman Sachs Group and Citigroup; Goldman Sachs Group increased Blackstone’s target price from $86.00 to $100.00 and gave the company a “buy” rating in January, while Citigroup also assigned Blackstone a “buy” rating with a $98.00 target price in May.
Notably, there have been significant insider transactions involving Blackstone’s stock in recent weeks. On March 29th, major shareholder Holdings L.P. Blackstone III bought over 27 thousand shares at an average cost of $47.11 per share, bringing their total investment to over $1.2 million; meanwhile, Director Joseph Baratta sold 85 thousand shares on April 3rd at an average price of $86.32 per share for a total transaction value of over $7 million.
Despite ups and downs in its stock prices and ratings over recent months, Blackstone remains a large and solidly-performing asset management firm with steady dividend payouts that attract investors seeking reliable returns. The company’s annualized dividend yield is currently just under 4%, making it an appealing option for income-focused investors.
Blackstone recently published its quarterly earnings data on April 20th revealing that the company had reported earnings per share (EPS) of $0.97 for the quarter – which was right on target with analysts’ consensus estimates – with revenue totaling $1.38 billion compared to last year’s numbers which were significantly higher due to economic downturns during that period but still yielded positive net margin and return on equity in line with analyst expectations.
In conclusion, as Blackstone continues to navigate the ups and downs of rating changes and stock price fluctuations, investors will be closely watching for signs of continued stability, profitability, and dividend payouts.
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