Blackstone Inc. (NYSE:BX) Receives Average Rating of “Hold” from Brokerages

Blackstone Inc. (NYSE:BX) has been given an average recommendation of “Hold” by the nineteen ratings firms that are currently covering the company, Marketbeat reports. Thirteen analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $155.38.

BX has been the topic of several research analyst reports. Morgan Stanley upped their price target on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price target on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Cowen reissued a “hold” rating on shares of Blackstone in a report on Friday, October 18th. Evercore ISI raised their target price 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. Finally, Redburn Atlantic assumed coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target on the stock.

Insider Activity

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 completion of the sale, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider John G. Finley sold 35,000 shares of the business’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 completion of the transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The trade was 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 the firm’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 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. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

A number of institutional investors have recently bought and sold shares of BX. West Financial Advisors LLC bought a new stake in shares of Blackstone during the 3rd quarter valued at $27,000. Chilton Capital Management LLC bought a new position in shares of Blackstone in the first quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Blackstone during the 2nd quarter valued at approximately $26,000. EdgeRock Capital LLC bought a new position in Blackstone in the 2nd quarter worth approximately $27,000. Finally, Bank & Trust Co bought a new stake in shares of Blackstone during the second quarter valued at approximately $29,000. 70.00% of the stock is owned by institutional investors.

Blackstone Price Performance

Blackstone stock opened at $167.75 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. Blackstone has a one year low of $91.14 and a one year high of $175.94. The firm has a market capitalization of $119.88 billion, a P/E ratio of 59.28, a PEG ratio of 1.24 and a beta of 1.51. The business has a fifty day moving average price of $153.32 and a 200-day moving average price of $135.84.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be paid a $0.86 dividend. The ex-dividend date is Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 2.05%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is presently 121.55%.

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.