Citigroup Increases Blackstone (NYSE:BX) Price Target to $170.00

Blackstone (NYSE:BX) had its target price increased by Citigroup from $157.00 to $170.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has a neutral rating on the asset manager’s stock.

BX has been the topic of several other research reports. Redburn Atlantic initiated coverage on shares of Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. UBS Group raised their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a research note on Wednesday, October 9th. Evercore ISI lifted their price objective on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their target price on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $155.38.

Blackstone Stock Performance

BX stock opened at $170.70 on Friday. The stock has a market capitalization of $121.99 billion, a PE ratio of 60.32, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The stock’s 50 day simple moving average is $147.84 and its 200 day simple moving average is $133.63. Blackstone has a 12-month low of $88.59 and a 12-month high of $175.94. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 28th will be paid a $0.86 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 2.02%. Blackstone’s dividend payout ratio is 121.55%.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this link. In other Blackstone news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business’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 completion of the sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This represents 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 Investors Weigh In On Blackstone

Large investors have recently added to or reduced their stakes in the stock. Sierra Capital LLC increased its position in Blackstone by 93.9% during the third quarter. Sierra Capital LLC now owns 33,729 shares of the asset manager’s stock valued at $5,165,000 after acquiring an additional 16,337 shares during the last quarter. Signaturefd LLC raised its position in Blackstone by 10.4% in the 3rd quarter. Signaturefd LLC now owns 15,036 shares of the asset manager’s stock worth $2,303,000 after purchasing an additional 1,421 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Blackstone by 1.7% in the third quarter. Sequoia Financial Advisors LLC now owns 91,051 shares of the asset manager’s stock worth $13,943,000 after purchasing an additional 1,495 shares during the last quarter. Argus Investors Counsel Inc. raised its holdings in shares of Blackstone by 5.4% in the third quarter. Argus Investors Counsel Inc. now owns 1,875 shares of the asset manager’s stock worth $287,000 after buying an additional 96 shares during the period. Finally, Oakworth Capital Inc. boosted its holdings in Blackstone by 5.3% during the 3rd quarter. Oakworth Capital Inc. now owns 1,864 shares of the asset manager’s stock valued at $285,000 after acquiring an additional 94 shares during the period. 70.00% of the stock is owned by 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.