Blackstone (NYSE:BX) PT Raised to $135.00

Blackstone (NYSE:BX) had its price objective increased by equities research analysts at The Goldman Sachs Group from $130.00 to $135.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 10.58% from the stock’s previous close.

Several other equities analysts have also commented on the company. Piper Sandler raised their price objective on Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. TD Cowen boosted their price objective on shares of Blackstone from $114.00 to $120.00 and gave the stock a “hold” rating in a research note on Friday, July 19th. Bank of America raised their target price on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Wells Fargo & Company started coverage on Blackstone in a report on Thursday, September 12th. They issued an “overweight” rating and a $163.00 target price on the stock. Finally, Barclays increased their price objective on shares of Blackstone from $126.00 to $141.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $131.17.

Blackstone Trading Down 0.8 %

Shares of BX stock traded down $1.24 during trading hours on Thursday, reaching $150.97. The company’s stock had a trading volume of 636,151 shares, compared to its average volume of 3,448,774. The firm’s fifty day simple moving average is $142.21 and its 200 day simple moving average is $131.01. Blackstone has a one year low of $88.59 and a one year high of $161.25. The stock has a market capitalization of $107.89 billion, a P/E ratio of 53.35, a P/E/G ratio of 1.34 and a beta of 1.51. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. Blackstone’s quarterly revenue was up 166.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.93 EPS. Equities research analysts expect that Blackstone will post 4.57 EPS for the current year.

Insider Activity

In related news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was 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 directly owns 429,386 shares in the company, valued at $56,567,311.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Curbstone Financial Management Corp grew its position in Blackstone by 13.8% in the 3rd quarter. Curbstone Financial Management Corp now owns 7,428 shares of the asset manager’s stock valued at $1,137,000 after acquiring an additional 898 shares during the last quarter. Czech National Bank grew its holdings in shares of Blackstone by 7.7% in the third quarter. Czech National Bank now owns 146,687 shares of the asset manager’s stock worth $22,462,000 after purchasing an additional 10,504 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Blackstone by 83.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 4,220 shares of the asset manager’s stock valued at $646,000 after buying an additional 1,918 shares during the period. Trust Co. of Toledo NA OH raised its stake in shares of Blackstone by 23.3% during the third quarter. Trust Co. of Toledo NA OH now owns 19,184 shares of the asset manager’s stock valued at $2,938,000 after acquiring an additional 3,625 shares in the last quarter. Finally, Appleton Partners Inc. MA grew its position in shares of Blackstone by 0.5% during the 3rd quarter. Appleton Partners Inc. MA now owns 100,281 shares of the asset manager’s stock worth $15,356,000 after buying an additional 541 shares in the last quarter. Institutional investors 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.