Blackstone (NYSE:BX) Price Target Lowered to $129.00 at Barclays

Blackstone (NYSE:BX - Get Free Report) had its price objective cut by investment analysts at Barclays from $186.00 to $129.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the asset manager's stock. Barclays's price objective would suggest a potential upside of 1.43% from the company's current price.

Several other research analysts have also recently weighed in on the company. UBS Group raised Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 price objective on the stock in a research report on Monday, March 17th. Citigroup restated a "hold" rating on shares of Blackstone in a report on Friday, February 7th. Wells Fargo & Company reduced their target price on shares of Blackstone from $180.00 to $160.00 and set an "equal weight" rating for the company in a research report on Thursday, March 20th. TD Cowen upgraded Blackstone from a "hold" rating to a "buy" rating and upped their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Finally, Piper Sandler boosted their target price on Blackstone from $168.00 to $179.00 and gave the company a "neutral" rating in a research note on Monday, December 23rd. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Blackstone presently has a consensus rating of "Hold" and a consensus price target of $157.22.

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Blackstone Stock Down 0.2 %

Shares of NYSE:BX traded down $0.26 during mid-day trading on Monday, hitting $127.19. 7,805,964 shares of the company traded hands, compared to its average volume of 3,690,525. The stock has a market cap of $92.77 billion, a P/E ratio of 35.04, a P/E/G ratio of 1.07 and a beta of 1.61. The stock has a 50-day moving average price of $149.11 and a two-hundred day moving average price of $165.63. Blackstone has a 12-month low of $115.66 and a 12-month high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX - Get Free Report) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. On average, equities research analysts forecast that Blackstone will post 5.87 earnings per share for the current year.

Insider Transactions at Blackstone

In related news, Director Ruth Porat purchased 301 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, with a total value of $49,619.85. Following the purchase, the director now directly owns 36,829 shares of the company's stock, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Bangor Savings Bank increased its position in shares of Blackstone by 187.5% during the fourth quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock valued at $28,000 after buying an additional 105 shares during the period. Hager Investment Management Services LLC bought a new stake in shares of Blackstone in the 4th quarter worth approximately $28,000. Centricity Wealth Management LLC bought a new stake in Blackstone during the 4th quarter valued at about $30,000. Roxbury Financial LLC purchased a new position in shares of Blackstone in the fourth quarter worth $34,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Blackstone in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

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.