Blackstone Inc. (NYSE:BX) Receives $169.56 Average Price Target from Analysts

Blackstone Inc. (NYSE:BX) has been assigned a consensus recommendation of “Hold” from the eighteen research firms that are currently covering the company, Marketbeat.com reports. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $169.56.

A number of brokerages have recently weighed in on BX. Keefe, Bruyette & Woods cut their price target on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Wells Fargo & Company lowered their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. BMO Capital Markets boosted their target price on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Barclays reduced their price target on shares of Blackstone from $199.00 to $192.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th.

Blackstone Trading Up 1.9 %

Shares of NYSE:BX opened at $180.00 on Wednesday. The company’s fifty day simple moving average is $180.73 and its 200 day simple moving average is $158.49. The firm has a market cap of $129.96 billion, a price-to-earnings ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Blackstone has a 12 month low of $115.63 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.37 billion. As a group, research analysts forecast that Blackstone will post 4.45 EPS for the current fiscal year.

Insider Buying and Selling at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Blackstone

Hedge funds and other institutional investors have recently made changes to their positions in the company. Smallwood Wealth Investment Management LLC purchased a new position in shares of Blackstone in the fourth quarter worth about $221,000. Cerro Pacific Wealth Advisors LLC acquired a new stake in Blackstone during the 4th quarter valued at approximately $237,000. Veracity Capital LLC increased its stake in shares of Blackstone by 11.2% in the fourth quarter. Veracity Capital LLC now owns 3,672 shares of the asset manager’s stock worth $633,000 after acquiring an additional 371 shares during the period. Red Door Wealth Management LLC raised its holdings in shares of Blackstone by 1.5% during the fourth quarter. Red Door Wealth Management LLC now owns 19,518 shares of the asset manager’s stock worth $3,365,000 after purchasing an additional 281 shares during the last quarter. Finally, Capital Planning Advisors LLC boosted its holdings in Blackstone by 6.2% in the fourth quarter. Capital Planning Advisors LLC now owns 30,683 shares of the asset manager’s stock valued at $5,290,000 after purchasing an additional 1,801 shares during the last quarter. Institutional investors 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.