Blackstone (NYSE:BX) Price Target Raised to $185.00

Blackstone (NYSE:BX) had its target price increased by Deutsche Bank Aktiengesellschaft from $164.00 to $185.00 in a report released on Wednesday morning,MarketScreener reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the asset manager’s stock.

Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods lowered their price target on Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a report on Monday, October 13th. JPMorgan Chase & Co. dropped their target price on shares of Blackstone from $177.00 to $176.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. BNP Paribas Exane lowered their price objective on shares of Blackstone from $178.00 to $167.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Citigroup cut their price objective on shares of Blackstone from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, Jefferies Financial Group dropped their price target on Blackstone from $199.00 to $187.00 in a research note on Monday, November 10th. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.95.

Blackstone Trading Down 1.4%

NYSE:BX opened at $151.61 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60. Blackstone has a 1-year low of $115.66 and a 1-year high of $190.09. The firm has a market capitalization of $111.95 billion, a price-to-earnings ratio of 43.32, a PEG ratio of 1.22 and a beta of 1.76. The business’s 50-day moving average price is $149.46 and its two-hundred day moving average price is $159.01.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The business had revenue of $2.49 billion for the quarter. On average, equities analysts expect that Blackstone will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Monday, November 3rd were issued a dividend of $1.29 per share. The ex-dividend date was Monday, November 3rd. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.16 dividend on an annualized basis and a yield of 3.4%. Blackstone’s dividend payout ratio is presently 147.43%.

Insider Transactions at Blackstone

In related news, Director Joseph Baratta sold 113,000 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $175.69, for a total value of $19,852,970.00. Following the sale, the director owned 695,757 shares in the company, valued at approximately $122,237,547.33. This represents a 13.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Holdings Iv Gp Mana Blackstone acquired 385,208 shares of Blackstone stock in a transaction on Friday, November 21st. The shares were bought at an average cost of $25.96 per share, with a total value of $9,999,999.68. Following the completion of the transaction, the insider owned 16,332,883 shares of the company’s stock, valued at approximately $424,001,642.68. This trade represents a 2.42% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 2,950,751 shares of company stock valued at $79,050,138. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Perigon Wealth Management LLC boosted its position in Blackstone by 3.2% in the second quarter. Perigon Wealth Management LLC now owns 62,484 shares of the asset manager’s stock valued at $9,346,000 after buying an additional 1,949 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Blackstone by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock valued at $10,394,670,000 after acquiring an additional 1,494,796 shares in the last quarter. Redmond Asset Management LLC grew its position in Blackstone by 21.2% during the 2nd quarter. Redmond Asset Management LLC now owns 18,785 shares of the asset manager’s stock worth $2,810,000 after acquiring an additional 3,281 shares during the last quarter. Kera Capital Partners Inc. bought a new position in Blackstone in the second quarter valued at about $273,000. Finally, Bourgeon Capital Management LLC acquired a new stake in shares of Blackstone during the second quarter valued at about $423,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.