Blackstone (NYSE:BX) Price Target Increased to $135.00 by Analysts at The Goldman Sachs Group

Blackstone (NYSE:BX) had its target price lifted by analysts at The Goldman Sachs Group from $130.00 to $135.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s target price would suggest a potential downside of 11.15% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Bank of America boosted their price target on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a report on Friday, July 19th. Piper Sandler boosted their price target on shares of Blackstone from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Redburn Atlantic began coverage on shares of Blackstone in a report on Tuesday, August 27th. They set a “neutral” rating and a $134.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $145.00 to $146.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company initiated coverage on shares of Blackstone in a report on Thursday, September 12th. They issued an “overweight” rating and a $163.00 price objective for the company. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Blackstone presently has a consensus rating of “Hold” and an average price target of $131.17.

Blackstone Stock Performance

Blackstone stock opened at $151.94 on Thursday. The company has a market cap of $108.58 billion, a PE ratio of 53.69, a P/E/G ratio of 1.34 and a beta of 1.51. The company has a fifty day moving average price of $142.63 and a two-hundred day moving average price of $131.34. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.77 and a quick ratio of 0.77. Blackstone has a 12 month low of $88.59 and a 12 month high of $161.25.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.03). The business had revenue of $3.69 billion during the quarter, compared to analyst estimates of $2.58 billion. Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The business’s revenue for the quarter was up 166.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.93 EPS. Research analysts expect that Blackstone will post 4.57 earnings per share for the current year.

Insider Activity

In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Blackstone news, insider John G. Finley sold 35,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total transaction of $4,610,900.00. Following the completion of the sale, the insider now directly owns 429,386 shares of the company’s stock, valued at approximately $56,567,311.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 799,749 shares of the company’s stock, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional Trading of Blackstone

Hedge funds have recently made changes to their positions in the stock. Chilton Capital Management LLC purchased a new stake in shares of Blackstone in the first quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Blackstone in the second quarter worth approximately $26,000. EdgeRock Capital LLC purchased a new stake in shares of Blackstone in the second quarter worth approximately $27,000. Bank & Trust Co acquired a new position in Blackstone in the second quarter worth approximately $29,000. Finally, Ridgewood Investments LLC acquired a new position in Blackstone in the second quarter worth approximately $31,000. 70.00% of the stock is owned by hedge funds and other institutional investors.

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.