Blackstone (NYSE:BX) Price Target Raised to $169.00 at Wells Fargo & Company

Blackstone (NYSE:BX) had its target price lifted by research analysts at Wells Fargo & Company from $163.00 to $169.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 13.37% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Redburn Atlantic assumed coverage on Blackstone in a research note on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Morgan Stanley boosted their price objective on shares of Blackstone from $144.00 to $164.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group increased their target price on shares of Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Finally, TD Cowen upped their price objective on shares of Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $135.00.

Blackstone Trading Up 0.4 %

BX stock opened at $149.07 on Wednesday. The company has a market cap of $106.53 billion, a P/E ratio of 52.90, a PEG ratio of 1.34 and a beta of 1.51. Blackstone has a twelve month low of $88.59 and a twelve month high of $161.25. 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 business has a fifty day moving average of $143.08 and a 200-day moving average of $131.81.

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 analysts’ consensus estimates of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the firm earned $0.93 earnings per share. The company’s quarterly revenue was up 166.9% on a year-over-year basis. As a group, equities research analysts expect that Blackstone will post 4.57 EPS for the current year.

Insider Activity at Blackstone

In other Blackstone news, insider John G. Finley sold 35,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related 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 value of $4,610,900.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BX. Chilton Capital Management LLC acquired a new position in shares of Blackstone in the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Blackstone during the second quarter worth approximately $26,000. EdgeRock Capital LLC bought a new stake in shares of Blackstone in the second quarter valued at approximately $27,000. West Financial Advisors LLC bought a new position in Blackstone during the 3rd quarter worth $27,000. Finally, Bank & Trust Co bought a new stake in shares of Blackstone during the 2nd quarter valued at $29,000. 70.00% of the stock is 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.