Blackstone (NYSE:BX) PT Raised to $174.00

Blackstone (NYSE:BX) had its target price upped by Barclays from $155.00 to $174.00 in a report published on Friday, Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

A number of other brokerages have also issued reports on BX. The Goldman Sachs Group upped their target price on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday. Evercore ISI increased their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Morgan Stanley upped their target price on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Redburn Atlantic initiated coverage on Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price objective for the company. Finally, UBS Group increased their target price on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $155.38.

Blackstone Stock Down 1.0 %

Shares of NYSE BX opened at $170.70 on Friday. The firm has a market cap of $121.99 billion, a price-to-earnings ratio of 60.32, a PEG ratio of 1.24 and a beta of 1.51. Blackstone has a 1 year low of $88.59 and a 1 year high of $175.94. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The stock’s 50-day simple moving average is $147.84 and its 200-day simple moving average is $133.63.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be given a $0.86 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 2.02%. Blackstone’s dividend payout ratio is 121.55%.

Insider Activity

In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of Blackstone

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Blackstone by 2.0% in the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after acquiring an additional 1,290,324 shares in the last quarter. Capital World Investors raised its holdings in shares of Blackstone by 7.5% in the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after purchasing an additional 2,546,886 shares in the last quarter. Wulff Hansen & CO. boosted its holdings in Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after buying an additional 7,281,128 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Blackstone by 2.3% in the second quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after buying an additional 141,616 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Blackstone by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock worth $613,581,000 after acquiring an additional 21,450 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.