Blackstone (NYSE:BX) Hits New 52-Week High – What’s Next?

Shares of Blackstone Inc. (NYSE:BX) reached a new 52-week high during mid-day trading on Wednesday . The company 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.

Analyst Upgrades and Downgrades

BX has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their target price on shares of Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets boosted their price target on Blackstone from $112.00 to $134.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. upped their target price on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Cowen restated a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Finally, Bank of America boosted their target price on shares of Blackstone from $171.00 to $192.00 and gave the stock a “buy” rating in a research 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 company has an average rating of “Hold” and a consensus target price of $155.38.

Blackstone Stock Up 4.0 %

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 firm has a market cap of $127.01 billion, a P/E ratio of 58.29, a price-to-earnings-growth ratio of 1.44 and a beta of 1.49. The firm’s 50-day moving average price is $154.97 and its 200 day moving average price is $137.05.

Blackstone Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Monday, October 28th were given a $0.86 dividend. This is a boost from Blackstone’s previous quarterly dividend of $0.82. This represents a $3.44 annualized dividend and a yield of 1.95%. The ex-dividend date was Monday, October 28th. Blackstone’s dividend payout ratio (DPR) is currently 118.21%.

Insider Activity

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s 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 in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

Institutional investors have recently bought and sold shares of the business. Norden Group LLC raised its holdings in Blackstone by 44.2% during the first quarter. Norden Group LLC now owns 2,427 shares of the asset manager’s stock valued at $319,000 after buying an additional 744 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Blackstone by 3.8% in the first quarter. Nordea Investment Management AB now owns 50,614 shares of the asset manager’s stock worth $6,644,000 after buying an additional 1,859 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Blackstone in the 1st quarter worth $64,000. Signaturefd LLC boosted its stake in Blackstone by 6.9% during the 1st quarter. Signaturefd LLC now owns 13,535 shares of the asset manager’s stock valued at $1,778,000 after purchasing an additional 873 shares during the period. Finally, 9258 Wealth Management LLC acquired a new stake in shares of Blackstone in the first quarter worth $252,000. 70.00% of the stock is currently owned by institutional investors and hedge funds.

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.