Blackstone (NYSE:BX) PT Raised to $170.00

by · The Cerbat Gem

Blackstone (NYSE:BX – Get Free Report) had its price target boosted by equities researchers at Citigroup from $157.00 to $170.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. Citigroup’s price objective points to a potential downside of 2.71% from the company’s current price.

BX has been the topic of several other reports. BMO Capital Markets increased their price target on shares of Blackstone from $112.00 to $134.00 and gave the company a “market perform” rating in a research note on Friday. Morgan Stanley raised their target price on shares of Blackstone from $164.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. TD Cowen raised their target price on shares of Blackstone from $133.00 to $149.00 and gave the stock a “hold” rating in a research report on Friday. Piper Sandler lowered shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective on the stock. in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $152.41.

Read Our Latest Report on Blackstone

Blackstone Trading Up 3.0 %

BX stock traded up $5.01 during mid-day trading on Friday, hitting $174.74. 3,427,253 shares of the company were exchanged, compared to its average volume of 3,440,055. 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 firm has a market capitalization of $124.88 billion, a P/E ratio of 61.75, a PEG ratio of 1.24 and a beta of 1.51. The business has a fifty day simple moving average of $146.19 and a 200-day simple moving average of $132.93. Blackstone has a 12-month low of $88.59 and a 12-month high of $175.94.

Blackstone (NYSE:BX – Get Free Report) last issued its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.93 EPS. On average, equities research analysts predict that Blackstone will post 4.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Blackstone news, insider John G. Finley sold 35,000 shares of the stock in a transaction that occurred 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John G. Finley sold 35,000 shares of Blackstone stock in a transaction that occurred 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 owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. ST Germain D J Co. Inc. grew its stake in shares of Blackstone by 1.2% in the third quarter. ST Germain D J Co. Inc. now owns 90,069 shares of the asset manager’s stock valued at $13,792,000 after acquiring an additional 1,053 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in Blackstone in the 3rd quarter valued at $227,000. Moss Adams Wealth Advisors LLC lifted its stake in Blackstone by 5.5% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 2,279 shares of the asset manager’s stock valued at $349,000 after acquiring an additional 118 shares in the last quarter. Stratos Investment Management LLC raised its stake in shares of Blackstone by 7.6% during the 3rd quarter. Stratos Investment Management LLC now owns 4,358 shares of the asset manager’s stock worth $667,000 after purchasing an additional 306 shares during the period. Finally, Stratos Wealth Partners LTD. grew its holdings in Blackstone by 9.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 75,914 shares of the asset manager’s stock valued at $11,625,000 after buying an additional 6,425 shares in the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

About Blackstone

(Get Free Report)

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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