Blackstone (NYSE:BX) Price Target Increased to $146.00 by Analysts at JPMorgan Chase & Co.

Blackstone (NYSE:BX) had its price target hoisted by JPMorgan Chase & Co. from $125.00 to $146.00 in a research report released on Friday, Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Other equities research analysts have also issued reports about the company. Barclays upped their price target on Blackstone from $155.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday. Wells Fargo & Company increased their price target on shares of Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday. The Goldman Sachs Group boosted their price target on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Friday. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective for the company. in a research report on Wednesday, October 9th. Finally, UBS Group increased their price objective on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, October 16th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Blackstone currently has a consensus rating of “Hold” and an average price target of $155.38.

Blackstone Stock Performance

Shares of NYSE:BX opened at $170.70 on Friday. The business’s 50 day moving average price is $147.84 and its 200-day moving average price is $133.63. Blackstone has a 1 year low of $88.59 and a 1 year high of $175.94. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market capitalization 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 company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 28th will be issued a $0.86 dividend. This is a positive change from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, October 28th. This represents a $3.44 annualized dividend and a yield of 2.02%. Blackstone’s dividend payout ratio is 121.55%.

Insider Buying and Selling

In related news, Director Joseph Baratta sold 116,448 shares of the company’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 transaction, the director now 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Blackstone news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the 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 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 disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Chilton Capital Management LLC acquired a new position in Blackstone in the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Blackstone in the second quarter worth approximately $26,000. EdgeRock Capital LLC bought a new position in shares of Blackstone during the 2nd quarter valued at about $27,000. West Financial Advisors LLC acquired a new stake in shares of Blackstone during the third quarter worth $27,000. Finally, Bank & Trust Co purchased a new position in shares of Blackstone in the second quarter worth approximately $29,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Company Profile

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.