Blackstone (NYSE:BX) Given New $199.00 Price Target at Barclays

Blackstone (NYSE:BX) had its price objective increased by equities research analysts at Barclays from $174.00 to $199.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Barclays‘s price target indicates a potential upside of 6.42% from the company’s previous close.

A number of other brokerages have also recently weighed in on BX. Deutsche Bank Aktiengesellschaft lifted their price objective on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Piper Sandler lowered 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. Redburn Atlantic assumed coverage on shares of Blackstone in a research report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target for the company. TD Cowen upgraded Blackstone from a “hold” rating to a “buy” rating and increased their price objective for the company from $149.00 to $230.00 in a research note on Monday. Finally, Citigroup upped their price target on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Blackstone currently has a consensus rating of “Hold” and a consensus target price of $164.25.

Blackstone Stock Down 0.1 %

BX stock opened at $187.00 on Monday. The firm has a market cap of $135.01 billion, a PE ratio of 64.26, a PEG ratio of 1.59 and a beta of 1.51. Blackstone has a one year low of $111.70 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s 50 day moving average price is $172.43 and its 200-day moving average price is $147.20.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.10. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.37 billion. Blackstone had a net margin of 19.46% and a return on equity of 17.53%. On average, equities research analysts anticipate that Blackstone will post 4.4 EPS for the current year.

Insider Buying and Selling at Blackstone

In related news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at $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 is available through this link. Also, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares of the company’s stock, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Sather Financial Group Inc boosted its position in shares of Blackstone by 202.5% during the 3rd quarter. Sather Financial Group Inc now owns 6,050 shares of the asset manager’s stock worth $926,000 after purchasing an additional 4,050 shares in the last quarter. Portside Wealth Group LLC purchased a new stake in Blackstone during the third quarter worth about $201,000. Wealth Enhancement Advisory Services LLC grew its position in Blackstone by 1.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 431,784 shares of the asset manager’s stock worth $53,455,000 after buying an additional 7,692 shares during the period. Aljian Capital Management LLC acquired a new stake in shares of Blackstone during the 3rd quarter valued at approximately $1,951,000. Finally, Icon Wealth Advisors LLC grew its holdings in shares of Blackstone by 2,185.4% in the 3rd quarter. Icon Wealth Advisors LLC now owns 18,946 shares of the asset manager’s stock worth $2,901,000 after acquiring an additional 18,117 shares during the period. 70.00% of the stock is owned by hedge funds and other 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.