Blackstone (NYSE:BX) PT Raised to $146.00

Blackstone (NYSE:BX) had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $145.00 to $146.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 6.78% from the company’s previous close.

BX has been the topic of a number of other reports. Barclays upped their price target on Blackstone from $126.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Friday, July 19th. Bank of America boosted their price target on shares of Blackstone from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Piper Sandler lifted their price objective on shares of Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, July 19th. JPMorgan Chase & Co. decreased their price target on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Finally, Argus lifted their target price on Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $128.65.

Blackstone Trading Up 0.4 %

Blackstone stock traded up $0.57 during mid-day trading on Thursday, hitting $136.73. The company’s stock had a trading volume of 1,751,863 shares, compared to its average volume of 3,522,740. Blackstone has a 1 year low of $88.59 and a 1 year high of $145.16. The stock’s fifty day moving average is $128.89 and its two-hundred day moving average is $126.30. The firm has a market capitalization of $97.71 billion, a PE ratio of 48.21, a price-to-earnings-growth ratio of 1.17 and a beta of 1.50. The company has a current ratio of 0.77, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60.

Blackstone (NYSE:BX) last issued its quarterly earnings data 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 company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The firm’s quarterly revenue was up 166.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.93 earnings per share. On average, analysts anticipate that Blackstone will post 4.58 EPS for the current year.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the completion of the sale, the director now owns 921,184 shares in the company, valued at $113,305,632. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Joseph Baratta sold 116,448 shares of Blackstone stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total value of $14,323,104.00. Following the transaction, the director now directly owns 921,184 shares in the company, valued at approximately $113,305,632. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Blackstone by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 64,262,972 shares of the asset manager’s stock valued at $8,442,227,000 after purchasing an additional 1,290,324 shares in the last quarter. Capital World Investors increased its stake in Blackstone by 7.5% in the 1st quarter. Capital World Investors now owns 36,285,872 shares of the asset manager’s stock valued at $4,766,875,000 after purchasing an additional 2,546,886 shares in the last quarter. Wulff Hansen & CO. grew its holdings in Blackstone by 12,192.7% in the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after purchasing an additional 7,281,128 shares during the last quarter. Brown Advisory Inc. raised its stake in shares of Blackstone by 5.3% during the 4th quarter. Brown Advisory Inc. now owns 6,429,749 shares of the asset manager’s stock worth $841,783,000 after buying an additional 322,860 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Blackstone by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock valued at $775,758,000 after acquiring an additional 141,616 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Company Profile

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.