Blackstone (NYSE:BX) PT Raised to $146.00 at JPMorgan Chase & Co.

Blackstone (NYSE:BX) had its target price increased by JPMorgan Chase & Co. from $125.00 to $146.00 in a report published on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the asset manager’s stock.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley boosted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their price objective on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research report on Friday. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a report on Wednesday, October 9th. UBS Group lifted their price objective on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. Finally, TD Cowen raised their target price on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research note on Friday. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $155.38.

Blackstone Trading Down 1.0 %

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

Blackstone Increases Dividend

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

Insider Buying and Selling

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

Institutional Trading of Blackstone

Hedge funds have recently added to or reduced their stakes in the company. West Financial Advisors LLC acquired a new position in shares of Blackstone in the third quarter worth about $27,000. Chilton Capital Management LLC acquired a new position in Blackstone in the 1st quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Blackstone in the second quarter valued at approximately $26,000. EdgeRock Capital LLC acquired a new position in shares of Blackstone during the 2nd quarter worth approximately $27,000. Finally, Bank & Trust Co purchased a new position in shares of Blackstone during the 2nd quarter valued at approximately $29,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

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.