Evercore ISI Cuts Blackstone (NYSE:BX) Price Target to $170.00

Blackstone (NYSE:BX) had its price target reduced by equities research analysts at Evercore ISI from $175.00 to $170.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The firm presently has an “outperform” rating on the asset manager’s stock. Evercore ISI’s price objective would indicate a potential upside of 19.42% from the company’s previous close.

Several other research firms have also recently weighed in on BX. JPMorgan Chase & Co. lowered their price target on shares of Blackstone from $176.00 to $158.00 and set a “neutral” rating on the stock in a report on Friday. BNP Paribas Exane reduced their price target on Blackstone from $167.00 to $156.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. The Goldman Sachs Group dropped their target price on Blackstone from $166.00 to $158.00 and set a “neutral” rating for the company in a report on Friday. Rothschild & Co Redburn lowered their price target on shares of Blackstone from $168.00 to $165.00 and set a “neutral” rating on the stock in a research report on Thursday, January 15th. Finally, Bank of America cut their price objective on shares of Blackstone from $199.00 to $189.00 in a report on Wednesday, December 10th. Ten analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $176.86.

Blackstone Stock Down 0.4%

Shares of BX opened at $142.35 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $153.03 and a two-hundred day moving average price of $160.81. Blackstone has a 12 month low of $115.66 and a 12 month high of $190.09. The stock has a market cap of $105.12 billion, a price-to-earnings ratio of 36.69, a P/E/G ratio of 1.01 and a beta of 1.75.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.21. Blackstone had a return on equity of 22.17% and a net margin of 20.89%.The business had revenue of $4.36 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the firm earned $1.69 EPS. The firm’s revenue was up 41.4% compared to the same quarter last year. Equities analysts predict that Blackstone will post 5.87 EPS for the current fiscal year.

Insider Activity at Blackstone

In related news, major shareholder Holdings Iv Gp Mana Blackstone purchased 384,468 shares of the stock in a transaction dated Friday, December 19th. The stock was bought at an average cost of $26.01 per share, for a total transaction of $10,000,012.68. Following the completion of the acquisition, the insider owned 16,525,117 shares of the company’s stock, valued at approximately $429,818,293.17. This represents a 2.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ruth Porat acquired 324 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average cost of $146.92 per share, for a total transaction of $47,602.08. Following the acquisition, the director owned 39,077 shares in the company, valued at $5,741,192.84. This represents a 0.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 783,978 shares of company stock valued at $22,058,454. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Blackstone

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Blackstone by 34.6% during the 4th quarter. Brighton Jones LLC now owns 7,917 shares of the asset manager’s stock worth $1,365,000 after purchasing an additional 2,035 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Blackstone by 9.3% in the second quarter. Sivia Capital Partners LLC now owns 2,076 shares of the asset manager’s stock valued at $310,000 after acquiring an additional 177 shares during the period. Pure Financial Advisors LLC bought a new stake in shares of Blackstone during the second quarter valued at approximately $657,000. Triad Wealth Partners LLC lifted its holdings in shares of Blackstone by 7.3% in the 2nd quarter. Triad Wealth Partners LLC now owns 2,883 shares of the asset manager’s stock worth $431,000 after purchasing an additional 197 shares in the last quarter. Finally, Abacus Planning Group Inc. bought a new stake in Blackstone during the 2nd quarter valued at $202,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Key Headlines Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Q4 beat — Blackstone reported EPS of $1.75 and revenue of $4.36B, both topping estimates; record AUM and large inflows underpinned results and demonstrate momentum in deals, fees and infrastructure. Read More.
• Positive Sentiment: Dividend hike — BX declared a quarterly dividend of $1.49 (15.5% increase vs. prior quarter), implying a ~4.2% yield and signaling management confidence and stronger cash return to shareholders. (Company release)
• Positive Sentiment: Bullish analyst notes — TD Cowen reaffirmed a “buy” and set a $183 target; Citizens Jmp kept a “market outperform” with a $195 target, both signaling sizable upside from current levels. Read More.
• Neutral Sentiment: Management/sector commentary — Blackstone highlighted AI-related investment as a major economic driver and continues to signal interest in data-center and infrastructure opportunities, which is strategic but longer-term. Read More.
• Neutral Sentiment: Investor event scheduled — CFO Michael Chae will present at the BofA Financial Services Conference on Feb 10; investors should watch the webcast for additional color on capital deployment and fee trends. Read More.
• Negative Sentiment: Analyst target cuts to neutral — JPMorgan trimmed its target from $176 to $158 and moved to “neutral,” signaling less conviction on near-term upside. Read More.
• Negative Sentiment: Goldman trims target — Goldman cut its PT from $166 to $158 and maintained a “neutral” stance, adding to the pushback from some sell-side desks despite the beat. Read More.

Blackstone Company Profile

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.