Blackstone (NYSE:BX) PT Raised to $155.00

Blackstone (NYSE:BX) had its target price increased by equities research analysts at Evercore ISI from $148.00 to $155.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. Evercore ISI’s price objective points to a potential downside of 0.86% from the stock’s current price.

Several other research analysts have also commented on the company. Piper Sandler lowered Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price target for the company. in a research report on Wednesday, October 9th. TD Cowen lifted their target price on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays upped their target price on shares of Blackstone from $141.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Wells Fargo & Company boosted their price target on shares of Blackstone from $163.00 to $169.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $136.18.

Blackstone Stock Performance

NYSE BX opened at $156.35 on Monday. The stock has a market cap of $111.73 billion, a PE ratio of 55.25, a P/E/G ratio of 1.24 and a beta of 1.51. Blackstone has a twelve month low of $88.59 and a twelve month high of $161.25. The stock has a fifty day simple moving average of $144.76 and a 200-day simple moving average of $132.48. 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 for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. Blackstone’s revenue was up 166.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. Equities analysts anticipate that Blackstone will post 4.46 earnings per share for the current year.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction 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 completion of the transaction, the director now 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 legal filing with the SEC, which is available at this hyperlink. In related news, insider John G. Finley sold 35,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction 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 completion of the transaction, the director now owns 799,749 shares in the company, valued at approximately $120,610,146.69. This 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.

Hedge Funds Weigh In On Blackstone

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hutchens & Kramer Investment Management Group LLC increased its holdings in shares of Blackstone by 13.3% in the third quarter. Hutchens & Kramer Investment Management Group LLC now owns 3,400 shares of the asset manager’s stock valued at $516,000 after purchasing an additional 400 shares during the period. First Pacific Financial increased its stake in Blackstone by 2.3% in the 3rd quarter. First Pacific Financial now owns 9,435 shares of the asset manager’s stock valued at $1,445,000 after buying an additional 210 shares during the period. Ullmann Wealth Partners Group LLC purchased a new position in Blackstone during the 3rd quarter worth $702,000. Watershed Private Wealth LLC boosted its holdings in shares of Blackstone by 6.3% in the third quarter. Watershed Private Wealth LLC now owns 1,801 shares of the asset manager’s stock valued at $276,000 after acquiring an additional 106 shares in the last quarter. Finally, Norway Savings Bank raised its holdings in Blackstone by 3.2% during the third quarter. Norway Savings Bank now owns 13,094 shares of the asset manager’s stock worth $2,005,000 after purchasing an additional 406 shares in the last quarter. Hedge funds and other institutional investors own 70.00% 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.