Blackstone (NYSE:BX) PT Raised to $150.00

Blackstone (NYSE:BX) had its price target boosted by analysts at The Goldman Sachs Group from $135.00 to $150.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective indicates a potential downside of 13.36% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a research 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 note on Friday, July 19th. Evercore ISI increased their price target on Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday. Redburn Atlantic initiated coverage on Blackstone in a research report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 target price on the stock. Finally, UBS Group boosted their price target on shares of Blackstone from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and an average target price of $142.53.

Blackstone Trading Up 2.0 %

BX traded up $3.41 during trading on Friday, reaching $173.14. 1,279,605 shares of the stock traded hands, compared to its average volume of 3,429,596. The stock’s 50-day moving average is $146.19 and its 200 day moving average is $132.93. Blackstone has a 12 month low of $88.59 and a 12 month high of $173.31. 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 stock has a market capitalization of $123.73 billion, a PE ratio of 61.18, a P/E/G ratio of 1.24 and a beta of 1.51.

Blackstone (NYSE:BX) last issued its 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). The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The company’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 earnings per share. Equities analysts anticipate that Blackstone will post 4.46 earnings per share for the current year.

Insider Activity at Blackstone

In other 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 completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at $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 available through the SEC website. In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction that occurred 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 sale, the director now owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Blackstone

Several large investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Blackstone by 1.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after purchasing an additional 7,692 shares in the last quarter. Norden Group LLC raised its holdings in Blackstone by 2,072.0% during the 1st quarter. Norden Group LLC now owns 36,555 shares of the asset manager’s stock valued at $4,802,000 after acquiring an additional 34,872 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Blackstone by 10.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,688 shares of the asset manager’s stock worth $614,000 after acquiring an additional 459 shares during the period. Global Assets Advisory LLC bought a new stake in shares of Blackstone during the 1st quarter valued at $65,050,000. Finally, Blue Trust Inc. boosted its stake in Blackstone by 936.2% in the 2nd quarter. Blue Trust Inc. now owns 5,958 shares of the asset manager’s stock worth $783,000 after purchasing an additional 5,383 shares during the period. Hedge funds and other 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.