Blackstone (NYSE:BX) PT Raised to $149.00 at TD Cowen

Blackstone (NYSE:BX) had its price target hoisted by TD Cowen from $133.00 to $149.00 in a research note published on Friday, Benzinga reports. They currently have a hold rating on the asset manager’s stock.

Several other research analysts also recently commented on the stock. UBS Group lifted their price target on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Bank of America boosted their price target on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Piper Sandler cut Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research note on Wednesday, October 9th. BMO Capital Markets increased their target price on Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a report on Friday. Finally, Wells Fargo & Company boosted their price objective on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research report on Friday. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $155.38.

Blackstone Price Performance

BX opened at $170.70 on Friday. The stock has a 50-day moving average price of $147.84 and a 200-day moving average price of $133.63. The stock 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. Blackstone has a 12-month low of $88.59 and a 12-month high of $175.94. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 4th. Investors of record on Monday, October 28th will be paid a $0.86 dividend. This represents a $3.44 annualized dividend and a yield of 2.02%. This is a boost from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. Blackstone’s dividend payout ratio is presently 121.55%.

Insider Buying and Selling

In related news, insider John G. Finley sold 35,000 shares of the company’s 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 transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was 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, insider John G. Finley sold 35,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Trading of Blackstone

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Blackstone by 2.0% in the first quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock worth $8,442,227,000 after buying an additional 1,290,324 shares during the last quarter. Capital World Investors boosted its stake in shares of Blackstone by 7.5% during the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock worth $4,766,875,000 after acquiring an additional 2,546,886 shares during the last quarter. Wulff Hansen & CO. increased its stake in shares of Blackstone by 12,192.7% in the 2nd quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after purchasing an additional 7,281,128 shares in the last quarter. Legal & General Group Plc raised its holdings in Blackstone by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock worth $775,758,000 after purchasing an additional 141,616 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Blackstone by 0.5% during the first quarter. Janus Henderson Group PLC now owns 4,670,645 shares of the asset manager’s stock valued at $613,581,000 after purchasing an additional 21,450 shares during the period. Hedge funds and other institutional investors own 70.00% of the company’s stock.

About Blackstone

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.