Wells Fargo & Company Has Lowered Expectations for Blackstone (NYSE:BX) Stock Price

Blackstone (NYSE:BX - Get Free Report) had its price objective dropped by stock analysts at Wells Fargo & Company from $180.00 to $160.00 in a report released on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the asset manager's stock. Wells Fargo & Company's price target would indicate a potential upside of 5.17% from the stock's previous close.

BX has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their price target on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Piper Sandler increased their target price on shares of Blackstone from $168.00 to $179.00 and gave the company a "neutral" rating in a research note on Monday, December 23rd. BMO Capital Markets lifted their price target on shares of Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods upped their target price on Blackstone from $174.00 to $177.00 and gave the company a "market perform" rating in a research note on Friday, January 31st. Finally, Citigroup restated a "hold" rating on shares of Blackstone in a report on Friday, February 7th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $171.13.

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Blackstone Price Performance

Shares of BX traded up $3.84 during midday trading on Thursday, hitting $152.13. 3,064,068 shares of the company traded hands, compared to its average volume of 3,279,256. Blackstone has a 52 week low of $115.82 and a 52 week high of $200.96. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. The firm has a 50 day moving average of $163.53 and a 200-day moving average of $167.49. The stock has a market cap of $110.97 billion, a price-to-earnings ratio of 41.91, a PEG ratio of 1.07 and a beta of 1.55.

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

Insider Activity at Blackstone

In related news, Director Ruth Porat acquired 301 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the completion of the acquisition, the director now directly owns 36,829 shares of the company's stock, valued at $6,071,260.65. This represents a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.