Blackstone (NYSE:BX) PT Raised to $169.00

Blackstone (NYSE:BX) had its price target lifted by research analysts at Wells Fargo & Company from $163.00 to $169.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price points to a potential upside of 13.37% from the company’s current price.

BX has been the subject of a number of other reports. Redburn Atlantic began coverage on shares of Blackstone in a report on Tuesday, August 27th. They issued a “neutral” rating and a $134.00 price target for the company. The Goldman Sachs Group raised their target price on shares of Blackstone from $130.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. TD Cowen increased their price objective on Blackstone from $114.00 to $120.00 and gave the company a “hold” rating in a research report on Friday, July 19th. Barclays boosted their target price on Blackstone from $141.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Blackstone from $145.00 to $146.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $135.00.

Blackstone Trading Up 0.4 %

NYSE:BX opened at $149.07 on Wednesday. The stock has a market cap of $106.53 billion, a price-to-earnings ratio of 52.90, a PEG ratio of 1.34 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The business has a fifty day moving average of $143.08 and a 200-day moving average of $131.81. Blackstone has a 1 year low of $88.59 and a 1 year high of $161.25.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, July 18th. The asset manager reported $0.96 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.03). Blackstone had a return on equity of 17.43% and a net margin of 19.35%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm earned $0.93 EPS. Blackstone’s revenue for the quarter was up 166.9% on a year-over-year basis. Equities analysts predict that Blackstone will post 4.57 earnings per share for the current year.

Insider Activity at Blackstone

In other Blackstone news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares of the company’s stock, valued at $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares in the company, valued at approximately $120,610,146.69. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John G. Finley sold 35,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 429,386 shares in the company, valued at $56,567,311.64. The trade was 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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BX. Chilton Capital Management LLC acquired a new position in shares of Blackstone during the first quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Blackstone in the 2nd quarter worth approximately $26,000. EdgeRock Capital LLC bought a new stake in shares of Blackstone during the second quarter valued at approximately $27,000. West Financial Advisors LLC bought a new position in Blackstone in the third quarter worth $27,000. Finally, Bank & Trust Co bought a new stake in Blackstone in the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

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.