BMO Capital Markets Issues Positive Forecast for Blackstone (NYSE:BX) Stock Price

Blackstone (NYSE:BX) had its price objective upped by BMO Capital Markets from $134.00 to $157.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “market perform” rating on the asset manager’s stock. BMO Capital Markets’ price objective points to a potential downside of 8.10% from the stock’s current price.

BX has been the topic of a number of other reports. Morgan Stanley boosted their price target on Blackstone from $164.00 to $177.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. The Goldman Sachs Group upped their price target on Blackstone from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Evercore ISI boosted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Bank of America raised their target price on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 price objective for the company. in a research note on Wednesday, October 9th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone presently has an average rating of “Hold” and a consensus price target of $169.13.

Blackstone Trading Up 1.1 %

NYSE:BX opened at $170.84 on Thursday. The business’s 50-day simple moving average is $178.82 and its 200-day simple moving average is $151.14. Blackstone has a fifty-two week low of $114.88 and a fifty-two week high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $123.35 billion, a PE ratio of 58.71, a price-to-earnings-growth ratio of 1.63 and a beta of 1.51.

Blackstone (NYSE:BX) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Sell-side analysts expect that Blackstone will post 4.43 earnings per share for the current fiscal year.

Insider Transactions at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the transaction, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This trade represents a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the sale, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Blackstone

Institutional investors have recently modified their holdings of the stock. Wulff Hansen & CO. lifted its position in Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock worth $908,797,000 after purchasing an additional 7,281,128 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Blackstone by 15,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after acquiring an additional 4,173,971 shares during the period. The Manufacturers Life Insurance Company raised its position in Blackstone by 213.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock valued at $170,345,000 after purchasing an additional 937,084 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Blackstone by 468.4% in the 2nd quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock valued at $137,114,000 after purchasing an additional 912,685 shares in the last quarter. Finally, Castleark Management LLC acquired a new position in shares of Blackstone during the 3rd quarter worth $67,472,000. 70.00% of the stock is currently owned by institutional investors.

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.