Blackstone (NYSE:BX) PT Raised to $170.00

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

A number of other analysts have also weighed in on the stock. Bank of America upped their price objective on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday. Barclays increased their price objective on shares of Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday. JPMorgan Chase & Co. upped their target price on Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday. Morgan Stanley lifted their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, UBS Group raised their price objective on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $155.38.

Blackstone Trading Down 1.0 %

BX opened at $170.70 on Friday. Blackstone has a 52 week low of $88.59 and a 52 week high of $175.94. The company has a market capitalization of $121.99 billion, a P/E ratio of 60.32, a PEG ratio of 1.24 and a beta of 1.51. The stock’s fifty day moving average is $147.84 and its two-hundred day moving average is $133.63. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be given a dividend of $0.86 per share. The ex-dividend date is Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 dividend on an annualized basis and a yield of 2.02%. Blackstone’s dividend payout ratio (DPR) is currently 121.55%.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Blackstone news, 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 value of $17,561,522.88. Following the sale, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John G. Finley sold 35,000 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

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