Blackstone (NYSE:BX) Price Target Increased to $134.00 by Analysts at BMO Capital Markets

by · The Markets Daily

Blackstone (NYSE:BX – Free Report) had its price objective increased by BMO Capital Markets from $112.00 to $134.00 in a report released on Friday morning, Marketbeat Ratings reports. BMO Capital Markets currently has a market perform rating on the asset manager’s stock.

Other research analysts also recently issued research reports about the stock. Redburn Atlantic started coverage on shares of Blackstone in a research note on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target on the stock. Wells Fargo & Company upped their price objective on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Evercore ISI upped their target price on Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Morgan Stanley raised their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $155.38.

View Our Latest Analysis on Blackstone

Blackstone Price Performance

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. The company has a 50-day moving average price of $147.84 and a 200 day moving average price of $133.63. Blackstone has a 12 month low of $88.59 and a 12 month high of $175.94. The stock has a market cap of $121.99 billion, a PE ratio of 60.32, a P/E/G ratio of 1.24 and a beta of 1.51.

Blackstone Increases Dividend

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

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 35,000 shares of the stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Joseph Baratta sold 116,448 shares of the 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 sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred 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 completion of the transaction, the insider now owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its position in Blackstone by 1.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after acquiring an additional 7,692 shares during the last quarter. Norden Group LLC lifted its holdings 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 worth $4,802,000 after purchasing an additional 34,872 shares during the period. Fisher Asset Management LLC boosted its holdings in Blackstone by 10.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock valued at $614,000 after purchasing an additional 459 shares in the last quarter. Global Assets Advisory LLC acquired a new position in shares of Blackstone during the 1st quarter worth $65,050,000. Finally, Blue Trust Inc. grew its holdings in shares of Blackstone by 936.2% in the 2nd quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock worth $783,000 after acquiring an additional 5,383 shares during the period. 70.00% of the stock is owned by institutional investors and hedge funds.

About Blackstone

(Get Free Report)

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.

Featured Articles