Blackstone (NYSE:BX) PT Raised to $188.00

Blackstone (NYSE:BX) had its target price lifted by stock analysts at Wells Fargo & Company from $169.00 to $188.00 in a note issued to investors on Friday, MarketBeat Ratings reports. The firm presently has an “overweight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 9.07% from the company’s previous close.

BX has been the subject of several other research reports. UBS Group boosted their price objective on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday. 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 research note on Wednesday, October 9th. Morgan Stanley lifted their price objective on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen raised 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. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Blackstone currently has a consensus rating of “Hold” and a consensus price target of $152.41.

Blackstone Stock Performance

Shares of Blackstone stock opened at $172.36 on Friday. The firm has a market capitalization of $123.18 billion, a P/E ratio of 60.90, a PEG 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 quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average price of $147.01 and a 200 day moving average price of $133.27.

Blackstone (NYSE:BX) last posted its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.03). The firm 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%. The firm’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.93 EPS. Sell-side analysts expect that Blackstone will post 4.46 EPS for the current year.

Insider Activity

In related news, insider John G. Finley sold 35,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 429,386 shares in the company, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Blackstone news, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred 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 transaction, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Brown Lisle Cummings Inc. boosted its holdings in shares of Blackstone by 0.9% in the 3rd quarter. Brown Lisle Cummings Inc. now owns 26,285 shares of the asset manager’s stock worth $4,025,000 after acquiring an additional 225 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Blackstone by 50.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 144,781 shares of the asset manager’s stock worth $22,170,000 after purchasing an additional 48,601 shares in the last quarter. Compass Ion Advisors LLC grew its holdings in shares of Blackstone by 1.3% during the third quarter. Compass Ion Advisors LLC now owns 25,767 shares of the asset manager’s stock worth $3,946,000 after purchasing an additional 336 shares during the last quarter. OLD National Bancorp IN raised its holdings in shares of Blackstone by 14.2% in the third quarter. OLD National Bancorp IN now owns 6,446 shares of the asset manager’s stock valued at $987,000 after buying an additional 800 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC grew its holdings in Blackstone by 45.6% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 27,785 shares of the asset manager’s stock worth $4,255,000 after acquiring an additional 8,700 shares during the last quarter. 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.