TD Cowen Increases Blackstone (NYSE:BX) Price Target to $149.00

Blackstone (NYSE:BX) had its price target lifted by TD Cowen from $133.00 to $149.00 in a research report report published on Friday, Benzinga reports. The firm currently has a hold rating on the asset manager’s stock.

A number of other research analysts also recently weighed in on BX. UBS Group upped their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group lifted their price target on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday. Morgan Stanley raised their price objective 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. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a report on Wednesday, October 9th. Finally, Barclays lifted their price target on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $155.38.

Blackstone Price Performance

Blackstone stock opened at $170.70 on Friday. 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 has a 52-week low of $88.59 and a 52-week high of $175.94. The stock’s 50 day moving average price is $147.84 and its two-hundred day moving average price is $133.63. The stock has a market capitalization 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 Increases Dividend

The business also recently disclosed 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 represents a $3.44 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Monday, October 28th. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is 121.55%.

Insider Activity

In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on 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 sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction dated 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the transaction, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

Several hedge funds have recently made changes to their positions in the stock. Wulff Hansen & CO. grew its holdings in Blackstone by 12,192.7% during the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after buying an additional 7,281,128 shares in the last quarter. Capital World Investors boosted its position in shares of Blackstone by 7.5% in the first quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after acquiring an additional 2,546,886 shares during the period. Lazard Asset Management LLC increased its holdings in Blackstone by 19,048.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,883,409 shares of the asset manager’s stock worth $247,423,000 after acquiring an additional 1,873,573 shares during the period. Vanguard Group Inc. boosted its holdings in Blackstone by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after purchasing an additional 1,290,324 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Blackstone by 213.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock worth $170,345,000 after purchasing an additional 937,084 shares during the period. 70.00% of the stock is currently 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.