Citigroup Increases Blackstone (NYSE:BX) Price Target to $170.00

Blackstone (NYSE:BX) had its price target hoisted by analysts at Citigroup from $157.00 to $170.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the asset manager’s stock. Citigroup’s price objective would indicate a potential downside of 1.37% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Piper Sandler lowered 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. UBS Group raised their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday. TD Cowen upped their price objective on shares of Blackstone from $133.00 to $149.00 and gave the company a “hold” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus target price of $152.41.

Blackstone Stock Performance

NYSE BX opened at $172.36 on Friday. The company has a market capitalization of $123.18 billion, a P/E ratio of 60.90, a P/E/G ratio of 1.24 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. Blackstone has a 52-week low of $88.59 and a 52-week high of $175.94. The company has a fifty day moving average of $147.01 and a 200-day moving average of $133.27.

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

Insider Activity

In other Blackstone news, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction dated 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 directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Blackstone news, insider John G. Finley sold 35,000 shares of the 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 sale, the insider now directly owns 429,386 shares in the company, valued at approximately $56,567,311.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

Large investors have recently added to or reduced their stakes in the stock. West Financial Advisors LLC bought a new stake in shares of Blackstone in the third quarter worth $27,000. Chilton Capital Management LLC bought a new position in shares of Blackstone in the 1st quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Blackstone during the second quarter valued at approximately $26,000. EdgeRock Capital LLC purchased a new position in shares of Blackstone during the 2nd quarter worth $27,000. Finally, Bank & Trust Co bought a new stake in shares of Blackstone during the 2nd quarter valued at $29,000. 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.