Blackstone (NYSE:BX) Price Target Lowered to $165.00 at BMO Capital Markets

Blackstone (NYSE:BX) had its price target decreased by equities research analysts at BMO Capital Markets from $180.00 to $165.00 in a research report issued on Monday,MarketScreener reports. The firm presently has an “outperform” rating on the asset manager’s stock. BMO Capital Markets’ price target indicates a potential upside of 18.31% from the company’s current price.

BX has been the subject of a number of other research reports. Citizens Jmp reaffirmed a “market outperform” rating and set a $195.00 price target on shares of Blackstone in a report on Friday. Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $164.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Keefe, Bruyette & Woods cut their price target on shares of Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th. Barclays lowered their price objective on Blackstone from $171.00 to $164.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, UBS Group set a $171.00 target price on Blackstone in a research note on Friday. Ten research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $175.33.

Blackstone Trading Down 2.1%

Shares of BX traded down $2.95 during midday trading on Monday, hitting $139.47. 300,604 shares of the stock were exchanged, compared to its average volume of 3,854,213. The firm has a market cap of $102.99 billion, a P/E ratio of 36.03, a P/E/G ratio of 1.01 and a beta of 1.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.75 and a current ratio of 0.76. Blackstone has a 52-week low of $115.66 and a 52-week high of $190.09. The stock has a fifty day simple moving average of $153.03 and a 200 day simple moving average of $160.78.

Blackstone (NYSE:BX) last posted its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 EPS for the quarter, beating 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 quarter last year, the company earned $1.69 earnings per share. The business’s revenue for the quarter was up 41.4% compared to the same quarter last year. On average, research analysts anticipate that Blackstone will post 5.87 EPS for the current fiscal year.

Insider Activity at Blackstone

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone purchased 385,208 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average price of $25.96 per share, for a total transaction of $9,999,999.68. Following the acquisition, the insider owned 16,332,883 shares in the company, valued at $424,001,642.68. This represents a 2.42% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ruth Porat bought 324 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average price of $146.92 per share, with a total value of $47,602.08. Following the completion of the acquisition, the director directly owned 39,077 shares in the company, valued at $5,741,192.84. This trade represents a 0.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 783,978 shares of company stock valued at $22,058,454 over the last 90 days. 1.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Blackstone

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Blackstone by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 71,667,695 shares of the asset manager’s stock valued at $11,046,859,000 after purchasing an additional 840,258 shares during the period. State Street Corp grew its position in Blackstone by 1.3% in the 3rd quarter. State Street Corp now owns 31,362,796 shares of the asset manager’s stock valued at $5,358,334,000 after acquiring an additional 412,281 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Blackstone by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 16,542,863 shares of the asset manager’s stock valued at $2,462,706,000 after buying an additional 227,416 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Blackstone by 4.7% in the 3rd quarter. Northern Trust Corp now owns 7,324,989 shares of the asset manager’s stock valued at $1,251,474,000 after acquiring an additional 329,379 shares during the last quarter. Finally, Norges Bank purchased a new position in Blackstone during the second quarter valued at $1,071,348,000. 70.00% of the stock is owned by institutional investors.

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.