Blackstone (NYSE:BX) PT Raised to $138.00 at UBS Group

Blackstone (NYSE:BX) had its price objective lifted by UBS Group from $135.00 to $138.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. UBS Group’s price target would suggest a potential upside of 11.69% from the company’s current price.

Several other brokerages have also recently weighed in on BX. Piper Sandler dropped their price target on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on Blackstone from $91.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, January 26th. The Goldman Sachs Group downgraded Blackstone from a “buy” rating to a “neutral” rating and upped their price target for the stock from $115.00 to $128.00 in a research note on Wednesday, January 3rd. Citigroup lowered shares of Blackstone from a “buy” rating to a “neutral” rating and upped their target price for the stock from $116.00 to $124.00 in a research report on Friday, January 19th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Blackstone presently has a consensus rating of “Hold” and an average target price of $119.92.

Blackstone Stock Down 2.6 %

Shares of BX stock traded down $3.31 during midday trading on Friday, reaching $123.56. 1,745,330 shares of the stock were exchanged, compared to its average volume of 3,647,710. The firm has a market cap of $88.30 billion, a PE ratio of 67.52, a price-to-earnings-growth ratio of 1.03 and a beta of 1.51. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.67. The company’s 50 day moving average is $126.92 and its two-hundred day moving average is $117.16. Blackstone has a 1 year low of $79.92 and a 1 year high of $133.56.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 EPS for the quarter, beating the consensus estimate of $0.95 by $0.16. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $2.48 billion. Blackstone had a return on equity of 17.30% and a net margin of 17.34%. During the same quarter last year, the firm posted $1.07 earnings per share. On average, equities research analysts predict that Blackstone will post 4.89 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the sale, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Blackstone news, insider John G. Finley sold 49,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the sale, the insider now owns 393,143 shares in the company, valued at $50,294,783.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the completion of the transaction, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The disclosure for this sale can be found here. Insiders have sold a total of 2,587,168 shares of company stock worth $37,816,476 over the last quarter. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WASHINGTON TRUST Co lifted its holdings in shares of Blackstone by 7.0% during the 3rd quarter. WASHINGTON TRUST Co now owns 121,358 shares of the asset manager’s stock valued at $13,002,000 after purchasing an additional 7,907 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in Blackstone by 5.5% in the fourth quarter. Asset Management One Co. Ltd. now owns 303,069 shares of the asset manager’s stock worth $40,348,000 after acquiring an additional 15,875 shares in the last quarter. Chicago Capital LLC purchased a new stake in shares of Blackstone during the fourth quarter worth about $3,734,000. Kampmann Melissa S. purchased a new position in shares of Blackstone in the 3rd quarter valued at approximately $2,314,000. Finally, The Manufacturers Life Insurance Company grew its position in Blackstone by 1,722.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 504,441 shares of the asset manager’s stock worth $54,046,000 after purchasing an additional 476,768 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

About Blackstone

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.