Blackstone (NYSE:BX) Price Target Raised to $174.00 at Barclays

Blackstone (NYSE:BX) had its target price lifted by Barclays from $155.00 to $174.00 in a research note published on Friday, Benzinga reports. Barclays currently has an equal weight rating on the asset manager’s stock.

Several other brokerages have also commented on BX. TD Cowen boosted their target price on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research report on Friday, July 19th. Wells Fargo & Company upped their target price on shares of Blackstone from $169.00 to $188.00 and gave the stock 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 price target for the company. in a research report on Wednesday, October 9th. Evercore ISI raised their price objective on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Morgan Stanley upped their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $155.38.

Blackstone Stock Performance

Shares of BX stock opened at $170.70 on Friday. 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 has a 12-month low of $88.59 and a 12-month high of $175.94. The company has a market cap 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 stock has a 50 day simple moving average of $147.84 and a 200-day simple moving average of $133.63.

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 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 a positive change from Blackstone’s previous quarterly dividend of $0.82. Blackstone’s dividend payout ratio (DPR) is 121.55%.

Insiders Place Their Bets

In related news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 429,386 shares in the company, 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 SEC, which can be accessed through the SEC website. In related 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 value of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction 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 in the company, valued at approximately $120,610,146.69. This trade 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

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

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.