Blackstone (NYSE:BX) Price Target Raised to $192.00 at Bank of America

Blackstone (NYSE:BX) had its price objective hoisted by Bank of America from $171.00 to $192.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has a buy rating on the asset manager’s stock.

A number of other analysts have also recently commented on the stock. Evercore ISI increased their price target 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 lifted their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. TD Cowen upped their price objective on Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research note on Friday. BMO Capital Markets boosted their target price on Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a report on Friday. Finally, UBS Group raised their price target on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and a consensus target price of $155.38.

Blackstone Stock Down 1.0 %

NYSE:BX opened at $170.70 on Friday. The firm 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 quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. Blackstone has a twelve month low of $88.59 and a twelve month 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.

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 given a dividend of $0.86 per share. The ex-dividend date of this dividend is Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a yield of 2.02%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio is currently 121.55%.

Insider Buying and Selling at Blackstone

In related 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 value of $17,561,522.88. Following the transaction, the director now owns 799,749 shares in the company, 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 this link. In other 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 value of $4,610,900.00. Following the sale, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $17,561,522.88. Following the transaction, the director now owns 799,749 shares of the company’s stock, valued at approximately $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

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its holdings in Blackstone by 1.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after buying an additional 7,692 shares during the last quarter. Norden Group LLC raised its stake in shares of Blackstone by 2,072.0% during the first quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after acquiring an additional 34,872 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Blackstone by 10.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock worth $614,000 after purchasing an additional 459 shares during the last quarter. Global Assets Advisory LLC bought a new position in Blackstone during the 1st quarter worth $65,050,000. Finally, Blue Trust Inc. lifted its holdings in Blackstone by 936.2% during the 2nd quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock worth $783,000 after buying an additional 5,383 shares during the period. 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.