Blackstone Inc. (NYSE:BX) Receives $155.38 Consensus Price Target from Analysts

Blackstone Inc. (NYSE:BX) has received a consensus recommendation of “Hold” from the nineteen research firms that are presently covering the company, Marketbeat reports. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $155.38.

BX has been the topic of several research analyst reports. The Goldman Sachs Group raised their price objective on Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Barclays lifted their price objective on Blackstone from $155.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Morgan Stanley raised their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Citigroup upped their target price on shares of Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, UBS Group boosted their price target on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, October 16th.

Insider Transactions at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 799,749 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Norden Group LLC lifted its stake in shares of Blackstone by 2,072.0% in the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after purchasing an additional 34,872 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Blackstone by 32.0% in the 1st quarter. First Trust Direct Indexing L.P. now owns 11,786 shares of the asset manager’s stock valued at $1,548,000 after acquiring an additional 2,858 shares during the period. Van ECK Associates Corp lifted its stake in Blackstone by 72.5% during the 1st quarter. Van ECK Associates Corp now owns 15,597 shares of the asset manager’s stock valued at $2,049,000 after acquiring an additional 6,553 shares during the period. StoneX Group Inc. raised its position in Blackstone by 5.0% during the first quarter. StoneX Group Inc. now owns 29,458 shares of the asset manager’s stock valued at $3,870,000 after acquiring an additional 1,397 shares in the last quarter. Finally, Fortem Financial Group LLC increased its stake in shares of Blackstone by 19.0% in the 1st quarter. Fortem Financial Group LLC now owns 10,102 shares of the asset manager’s stock valued at $1,327,000 after purchasing an additional 1,613 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 1.5 %

Shares of Blackstone stock opened at $169.61 on Friday. The firm has a 50-day moving average of $154.97 and a 200-day moving average of $137.05. Blackstone has a 52-week low of $96.15 and a 52-week high of $175.94. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.77 and a current ratio of 0.71. The stock has a market cap of $122.13 billion, a PE ratio of 58.29, a PEG ratio of 1.44 and a beta of 1.49.

Blackstone Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were given a $0.86 dividend. 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 dividend yield of 2.03%. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

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.