TD Cowen Lowers Blackstone (NYSE:BX) Price Target to $164.00

Blackstone (NYSE:BX) had its target price lowered by equities research analysts at TD Cowen from $183.00 to $164.00 in a research report issued on Thursday,MarketScreener reports. The firm currently has a “buy” rating on the asset manager’s stock. TD Cowen’s target price suggests a potential upside of 26.23% from the company’s current price.

BX has been the topic of several other reports. Argus lowered their price objective on Blackstone from $195.00 to $163.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft upped their price target on Blackstone from $164.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Jefferies Financial Group decreased their target price on Blackstone from $185.00 to $161.00 and set a “buy” rating for the company in a research report on Tuesday. UBS Group set a $171.00 price target on shares of Blackstone in a report on Friday, January 30th. Finally, BNP Paribas Exane lowered their price objective on shares of Blackstone from $167.00 to $156.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Eleven analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $172.82.

Blackstone Price Performance

BX opened at $129.93 on Thursday. Blackstone has a 1 year low of $115.66 and a 1 year high of $190.09. The stock has a 50-day moving average price of $150.13 and a 200-day moving average price of $158.14. The firm has a market cap of $95.94 billion, a PE ratio of 33.49, a P/E/G ratio of 1.01 and a beta of 1.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.76 and a quick ratio of 0.75.

Blackstone (NYSE:BX) last released its quarterly earnings data on Thursday, January 29th. The asset manager reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.21. Blackstone had a net margin of 20.89% and a return on equity of 22.17%. The business had revenue of $4.36 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the business earned $1.69 EPS. Blackstone’s revenue was up 41.4% compared to the same quarter last year. Sell-side analysts predict that Blackstone will post 5.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Blackstone

In other news, major shareholder Tactical Opportunit Blackstone sold 1,596,142 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $10.00, for a total transaction of $15,961,420.00. Following the completion of the sale, the insider owned 2,161 shares of the company’s stock, valued at $21,610. The trade was a 99.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 385,208 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was bought at an average cost of $25.96 per share, for a total transaction of $9,999,999.68. Following the completion of the acquisition, the insider owned 16,332,883 shares in the company, valued at $424,001,642.68. This trade represents a 2.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arcus Capital Partners LLC lifted its stake in shares of Blackstone by 1.2% during the 2nd quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager’s stock valued at $739,000 after buying an additional 58 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in Blackstone by 3.5% during the second quarter. GHP Investment Advisors Inc. now owns 1,784 shares of the asset manager’s stock valued at $267,000 after acquiring an additional 61 shares during the period. WNY Asset Management LLC boosted its stake in shares of Blackstone by 1.7% in the second quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager’s stock worth $576,000 after acquiring an additional 64 shares during the period. Redwood Financial Network Corp raised its stake in Blackstone by 1.8% during the 2nd quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock valued at $537,000 after purchasing an additional 65 shares during the period. Finally, Obermeyer Wealth Partners lifted its holdings in Blackstone by 2.3% in the 3rd quarter. Obermeyer Wealth Partners now owns 2,993 shares of the asset manager’s stock worth $511,000 after purchasing an additional 66 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

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.