Blackstone Inc. (BX) to Issue Quarterly Dividend of $0.86 on November 4th

Blackstone Inc. (NYSE:BX) declared a quarterly dividend on Thursday, October 17th, Wall Street Journal reports. Shareholders of record on Monday, October 28th will be paid a dividend of 0.86 per share by the asset manager on Monday, November 4th. This represents a $3.44 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Monday, October 28th. This is a positive change from Blackstone’s previous quarterly dividend of $0.82.

Blackstone has raised its dividend payment by an average of 20.2% per year over the last three years. Blackstone has a dividend payout ratio of 59.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Blackstone to earn $5.98 per share next year, which means the company should continue to be able to cover its $3.44 annual dividend with an expected future payout ratio of 57.5%.

Blackstone Trading Down 1.3 %

Shares of NYSE:BX opened at $167.50 on Friday. The firm has a market capitalization of $119.70 billion, a price-to-earnings ratio of 59.19, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. The business’s 50 day moving average price is $149.82 and its 200-day moving average price is $134.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. Blackstone has a 1 year low of $88.59 and a 1 year high of $175.94.

Analyst Ratings Changes

BX has been the topic of several research analyst reports. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research report on Wednesday, October 9th. Morgan Stanley increased their target price on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. UBS Group lifted their price target on Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $155.38.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider John G. Finley sold 35,000 shares of the firm’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 completion of the transaction, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Tuesday, October 1st. The stock was 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 position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.