Blackstone Inc. (NYSE:BX) Receives $145.52 Consensus Price Target from Analysts

Shares of Blackstone Inc. (NYSE:BXGet Free Report) have earned a consensus recommendation of “Moderate Buy” from the twenty-four analysts that are presently covering the firm, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $145.7143.

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on Blackstone from $136.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Jefferies Financial Group raised their price objective on Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Citizens Jmp decreased their target price on Blackstone from $190.00 to $165.00 and set a “market outperform” rating for the company in a report on Thursday, July 9th. Dbs Bank upgraded shares of Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings lowered shares of Blackstone from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 4th.

Read Our Latest Stock Report on Blackstone

Blackstone Price Performance

BX opened at $124.13 on Friday. Blackstone has a 1 year low of $101.73 and a 1 year high of $190.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The company’s 50 day simple moving average is $119.99 and its 200 day simple moving average is $125.27. The stock has a market capitalization of $92.21 billion, a PE ratio of 31.75, a P/E/G ratio of 1.35 and a beta of 1.58.

Blackstone (NYSE:BXGet Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. Blackstone’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $1.11 EPS. As a group, sell-side analysts expect that Blackstone will post 5.83 EPS for the current year.

Insider Activity at Blackstone

In related news, Director Ruth Porat purchased 355 shares of Blackstone stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $123.04 per share, with a total value of $43,679.20. Following the transaction, the director owned 41,818 shares of the company’s stock, valued at approximately $5,145,286.72. The trade was a 0.86% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Private Multi-Asset Blackstone acquired 765,111 shares of the stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average cost of $26.14 per share, with a total value of $20,000,001.54. Following the transaction, the insider directly owned 7,882,145 shares of the company’s stock, valued at $206,039,270.30. This represents a 10.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 10,252,345 shares of company stock valued at $209,789,893 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Blackstone during the fourth quarter valued at about $1,275,747,000. Capital Research Global Investors grew its stake in Blackstone by 99.2% during the 4th quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager’s stock valued at $983,690,000 after purchasing an additional 3,178,133 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Blackstone during the 1st quarter worth approximately $164,597,000. Amundi raised its position in shares of Blackstone by 85.6% in the 4th quarter. Amundi now owns 2,709,345 shares of the asset manager’s stock valued at $417,620,000 after purchasing an additional 1,249,269 shares in the last quarter. Finally, Focus Partners Wealth grew its position in shares of Blackstone by 476.1% during the fourth quarter. Focus Partners Wealth now owns 1,324,168 shares of the asset manager’s stock worth $204,193,000 after buying an additional 1,094,307 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Blackstone Company Profile

(Get Free Report)

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.

See Also

Analyst Recommendations for Blackstone (NYSE:BX)

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