Blackstone (NYSE:BX) PT Raised to $134.00

Blackstone (NYSE:BX) had its target price lifted by research analysts at BMO Capital Markets from $112.00 to $134.00 in a report issued on Friday, MarketBeat.com reports. The brokerage presently has a “market perform” rating on the asset manager’s stock. BMO Capital Markets’ target price indicates a potential downside of 22.26% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Piper Sandler cut shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price for the company. in a report on Wednesday, October 9th. TD Cowen boosted their price objective on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a report on Friday, July 19th. The Goldman Sachs Group boosted their price objective on shares of Blackstone from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Friday. Bank of America boosted their price objective on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Evercore ISI boosted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $152.41.

Blackstone Stock Up 1.5 %

Shares of Blackstone stock opened at $172.36 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $123.18 billion, a PE ratio of 60.90, a price-to-earnings-growth ratio of 1.24 and a beta of 1.51. Blackstone has a 52-week low of $88.59 and a 52-week high of $175.94. The company has a 50-day simple moving average of $147.01 and a two-hundred day simple moving average of $133.27.

Blackstone (NYSE:BX) last issued its 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 firm had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm’s quarterly revenue was up 166.9% on a year-over-year basis. During the same period last year, the firm posted $0.93 earnings per share. On average, analysts anticipate that Blackstone will post 4.46 EPS for the current fiscal year.

Insiders Place Their Bets

In related 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. 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.

Hedge Funds Weigh In On Blackstone

Institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its position in Blackstone by 1.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock valued at $53,455,000 after purchasing an additional 7,692 shares during the last quarter. Norden Group LLC raised its stake in shares of Blackstone by 2,072.0% in the first quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after acquiring an additional 34,872 shares during the period. Fisher Asset Management LLC raised its stake in shares of Blackstone by 10.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock valued at $614,000 after acquiring an additional 459 shares during the period. Global Assets Advisory LLC purchased a new stake in shares of Blackstone in the first quarter valued at $65,050,000. Finally, Blue Trust Inc. raised its stake in shares of Blackstone by 936.2% in the second quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock valued at $783,000 after acquiring an additional 5,383 shares during the period. 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.