Blackstone (NYSE:BX - Get Free Report) had its price objective raised by equities research analysts at Keefe, Bruyette & Woods from $169.00 to $175.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "market perform" rating on the asset manager's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 2.44% from the company's previous close.
A number of other equities research analysts have also issued reports on BX. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Blackstone from $172.00 to $182.00 and gave the company a "buy" rating in a report on Monday, November 11th. The Goldman Sachs Group increased their target price on Blackstone from $135.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Evercore ISI upped their price target on Blackstone from $148.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Barclays lifted their target price on Blackstone from $174.00 to $199.00 and gave the company an "equal weight" rating in a research note on Monday, December 9th. Finally, BMO Capital Markets increased their price target on shares of Blackstone from $134.00 to $157.00 and gave the stock a "market perform" rating in a research report on Thursday. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $169.13.
Check Out Our Latest Stock Analysis on BX
Blackstone Stock Performance
BX traded up $1.93 during trading hours on Friday, hitting $170.84. The company's stock had a trading volume of 10,846,731 shares, compared to its average volume of 3,453,564. Blackstone has a fifty-two week low of $114.88 and a fifty-two week high of $200.96. The firm has a market capitalization of $123.35 billion, a PE ratio of 58.71, a PEG ratio of 1.63 and a beta of 1.51. The company has a 50-day simple moving average of $178.82 and a 200 day simple moving average of $151.14. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.
Blackstone (NYSE:BX - Get Free Report) last announced its earnings results on Thursday, October 17th. The asset manager reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. The firm had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.37 billion. As a group, sell-side analysts expect that Blackstone will post 4.43 EPS for the current year.
Insiders Place Their Bets
In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company's stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph Baratta sold 116,448 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the transaction, the director now owns 799,749 shares of the company's stock, valued at approximately $120,610,146.69. This represents a 12.71 % 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.
Hedge Funds Weigh In On Blackstone
Institutional investors and hedge funds have recently bought and sold shares of the company. West Financial Advisors LLC bought a new position in Blackstone during the 3rd quarter worth approximately $27,000. Ridgewood Investments LLC bought a new stake in Blackstone during the second quarter valued at $31,000. Hantz Financial Services Inc. acquired a new position in shares of Blackstone in the 2nd quarter valued at about $37,000. Strategic Investment Solutions Inc. IL acquired a new position in Blackstone in the second quarter valued at approximately $39,000. Finally, Raleigh Capital Management Inc. grew its position in shares of Blackstone by 32.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager's stock worth $39,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 70.00% of the company's stock.
Blackstone Company Profile
(
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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.
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