Blackstone (NYSE:BX) Price Target Raised to $182.00

Blackstone (NYSE:BX) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $172.00 to $182.00 in a research note issued to investors on Monday morning,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the asset manager’s stock.

Several other analysts have also recently weighed in on BX. Cowen reiterated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Morgan Stanley raised their target price on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Evercore ISI raised their target price on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Wells Fargo & Company lifted their price target on shares of Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $157.63.

Blackstone Stock Up 0.5 %

Shares of BX stock opened at $181.56 on Monday. The firm has a fifty day moving average of $158.78 and a 200-day moving average of $139.01. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone has a 12-month low of $100.78 and a 12-month high of $183.96. The company has a market capitalization of $131.09 billion, a price-to-earnings ratio of 62.39, a P/E/G ratio of 1.55 and a beta of 1.49.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. As a group, equities research analysts predict that Blackstone will post 4.39 earnings per share for the current fiscal year.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a dividend of $0.86 per share. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 1.89%. Blackstone’s dividend payout ratio (DPR) is 118.21%.

Insiders Place Their Bets

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Joseph Baratta sold 116,448 shares of the 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 completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 42,249 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Blackstone

Hedge funds and other institutional investors have recently bought and sold shares of the business. Portside Wealth Group LLC bought a new stake in shares of Blackstone in the 3rd quarter worth approximately $201,000. Wealth Enhancement Advisory Services LLC grew its holdings in Blackstone by 1.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after acquiring an additional 7,692 shares during the period. Blue Trust Inc. lifted its position in Blackstone by 936.2% in the 2nd quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock valued at $783,000 after acquiring an additional 5,383 shares in the last quarter. Asahi Life Asset Management CO. LTD. bought a new position in shares of Blackstone during the 3rd quarter worth approximately $557,000. Finally, Scientech Research LLC purchased a new position in Blackstone in the 2nd quarter valued at approximately $1,364,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

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.