The Goldman Sachs Group Raises Blackstone (NYSE:BX) Price Target to $150.00

Blackstone (NYSE:BX) had its target price hoisted by stock analysts at The Goldman Sachs Group from $135.00 to $150.00 in a research report issued on Friday, MarketBeat reports. The firm currently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective points to a potential downside of 12.97% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Redburn Atlantic began coverage on Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their price objective on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. UBS Group raised their price objective on Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company raised their price objective on Blackstone from $169.00 to $188.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Barclays raised their price objective on Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Blackstone presently has an average rating of “Hold” and a consensus target price of $152.41.

Blackstone Stock Up 1.5 %

NYSE:BX 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 company has a market cap of $123.18 billion, a PE 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 stock has a 50-day simple moving average of $147.01 and a 200 day simple moving average of $133.27.

Blackstone (NYSE:BX) last issued its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the company posted $0.93 earnings per share. The business’s revenue for the quarter was up 166.9% on a year-over-year basis. On average, sell-side analysts expect that Blackstone will post 4.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other Blackstone 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 transaction of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Blackstone 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 transaction of $4,610,900.00. Following the transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing 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 value 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

Several hedge funds and other institutional investors have recently modified their holdings of the business. Trust Co. of Vermont increased its stake in shares of Blackstone by 3.1% in the 3rd quarter. Trust Co. of Vermont now owns 2,240 shares of the asset manager’s stock valued at $343,000 after purchasing an additional 67 shares during the last quarter. CVA Family Office LLC grew its position in Blackstone by 6.4% during the 3rd quarter. CVA Family Office LLC now owns 1,222 shares of the asset manager’s stock worth $187,000 after acquiring an additional 73 shares during the last quarter. Moseley Investment Management Inc. grew its position in Blackstone by 0.7% during the 2nd quarter. Moseley Investment Management Inc. now owns 11,239 shares of the asset manager’s stock worth $1,391,000 after acquiring an additional 74 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its position in Blackstone by 0.6% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 13,840 shares of the asset manager’s stock worth $1,713,000 after acquiring an additional 80 shares during the last quarter. Finally, Signaturefd LLC grew its position in Blackstone by 0.6% during the 2nd quarter. Signaturefd LLC now owns 13,615 shares of the asset manager’s stock worth $1,686,000 after acquiring an additional 80 shares during 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.