Blackstone (NYSE:BX – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.
Other research analysts have also recently issued research reports about the stock. Piper Sandler raised their price target on shares of Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Morgan Stanley lifted their price target on Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Wells Fargo & Company cut their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. JPMorgan Chase & Co. upped their target price on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Evercore ISI raised their price target on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $169.56.
Blackstone Stock Performance
Blackstone (NYSE:BX – Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. Equities research analysts predict that Blackstone will post 4.45 earnings per share for the current fiscal year.
Insider Transactions at Blackstone
In other Blackstone news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of BX. AQR Capital Management LLC grew its holdings in shares of Blackstone by 123.6% during the second quarter. AQR Capital Management LLC now owns 19,812 shares of the asset manager’s stock worth $2,453,000 after buying an additional 10,952 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake 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 worth $646,000 after purchasing an additional 1,918 shares in the last quarter. Czech National Bank grew its position 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 valued at $22,462,000 after purchasing an additional 10,504 shares in the last quarter. Curbstone Financial Management Corp boosted its stake in Blackstone by 13.8% during the third quarter. Curbstone Financial Management Corp now owns 7,428 shares of the asset manager’s stock worth $1,137,000 after buying an additional 898 shares during the last quarter. Finally, Single Point Partners LLC acquired a new stake in shares of Blackstone in the 3rd quarter worth $214,000. Institutional investors and hedge funds 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.
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