Blackstone (NYSE:BX) Reaches New 1-Year High – Should You Buy?

Shares of Blackstone Inc. (NYSE:BX) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $176.32 and last traded at $175.36, with a volume of 67923 shares trading hands. The stock had previously closed at $169.62.

Analysts Set New Price Targets

A number of brokerages have issued reports on BX. TD Cowen boosted their price target on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research note on Friday, October 18th. UBS Group boosted their price objective on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price target on shares of Blackstone from $125.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company lifted their price target on Blackstone from $169.00 to $188.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. 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, the stock presently has an average rating of “Hold” and an average target price of $155.38.

Blackstone Trading Up 4.0 %

The business has a fifty day simple moving average of $154.97 and a 200 day simple moving average of $137.05. The company has a quick ratio of 0.77, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market cap of $127.01 billion, a price-to-earnings ratio of 58.29, a P/E/G ratio of 1.44 and a beta of 1.49.

Blackstone Increases Dividend

The business also recently declared 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 represents a $3.44 dividend on an annualized basis and a dividend yield of 1.95%. This is an increase from Blackstone’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is presently 118.21%.

Insider Transactions at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of Blackstone 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 completion of the transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was 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. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BX. Raleigh Capital Management Inc. boosted its holdings in shares of Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after purchasing an additional 62 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in Blackstone by 2.3% in the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after purchasing an additional 62 shares during the period. Fidelis Capital Partners LLC raised its stake in Blackstone by 2.7% during the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock worth $396,000 after purchasing an additional 62 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of Blackstone by 0.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,926 shares of the asset manager’s stock worth $2,132,000 after buying an additional 64 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in Blackstone by 1.1% in the third quarter. Lindbrook Capital LLC now owns 5,743 shares of the asset manager’s stock valued at $879,000 after acquiring an additional 65 shares during the last quarter. 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.