TD Cowen Issues Pessimistic Forecast for Blackstone (NYSE:BX) Stock Price

Blackstone (NYSE:BX) had its price target decreased by TD Cowen from $140.00 to $133.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm currently has a “buy” rating on the asset manager’s stock. TD Cowen’s price target would suggest a potential upside of 13.96% from the company’s current price.

Several other brokerages have also issued reports on BX. Evercore reiterated an “outperform” rating and issued a $150.00 price target on shares of Blackstone in a research note on Tuesday, April 21st. Citizens Jmp decreased their price objective on shares of Blackstone from $195.00 to $190.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. Rothschild & Co Redburn lowered their target price on Blackstone from $138.00 to $134.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Argus lowered their price objective on Blackstone from $163.00 to $146.00 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Finally, Barclays decreased their target price on Blackstone from $126.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 8th. Eleven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Blackstone currently has an average rating of “Hold” and a consensus price target of $151.05.

Blackstone Stock Performance

Shares of BX stock opened at $116.70 on Monday. The stock has a market capitalization of $86.70 billion, a P/E ratio of 29.84, a PEG ratio of 1.29 and a beta of 1.63. The firm’s 50 day moving average is $117.10 and its 200 day moving average is $134.63. Blackstone has a 12 month low of $101.73 and a 12 month high of $190.09. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.66.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period last year, the firm posted $1.11 earnings per share. Blackstone’s quarterly revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts anticipate that Blackstone will post 5.89 earnings per share for the current year.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Holdings Iv Gp Mana Blackstone purchased 2,868,069 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average cost of $26.15 per share, for a total transaction of $75,000,004.35. Following the completion of the transaction, the insider owned 18,628,295 shares of the company’s stock, valued at $487,129,914.25. The trade was a 18.20% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Holdings I. L.P. Blackstone sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $19.00, for a total transaction of $475,000.00. Following the completion of the transaction, the insider directly owned 125,000 shares of the company’s stock, valued at approximately $2,375,000. The trade was a 16.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have bought 4,015,297 shares of company stock valued at $105,053,996 and have sold 9,128,660 shares valued at $46,457,920. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Blackstone during the 4th quarter worth $1,275,747,000. Capital Research Global Investors increased its position in Blackstone by 99.2% during the fourth quarter. Capital Research Global Investors now owns 6,381,767 shares of the asset manager’s stock worth $983,690,000 after buying an additional 3,178,133 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Blackstone during the first quarter valued at $164,597,000. Vanguard Group Inc. raised its stake in Blackstone by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,827,437 shares of the asset manager’s stock valued at $12,100,868,000 after purchasing an additional 1,335,060 shares during the last quarter. Finally, Amundi grew its holdings in shares of Blackstone by 85.6% during the fourth quarter. Amundi now owns 2,709,345 shares of the asset manager’s stock worth $417,620,000 after buying an additional 1,249,269 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.