UBS Group Cuts Blackstone (NYSE:BX) Price Target to $175.00

Blackstone (NYSE:BX - Get Free Report) had its target price lowered by UBS Group from $180.00 to $175.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the asset manager's stock. UBS Group's target price points to a potential upside of 40.18% from the company's previous close.

A number of other analysts also recently weighed in on the stock. Bank of America decreased their target price on shares of Blackstone from $219.00 to $207.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Piper Sandler decreased their price target on Blackstone from $182.00 to $140.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. TD Cowen cut their price target on Blackstone from $233.00 to $147.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company dropped their price objective on shares of Blackstone from $160.00 to $139.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods decreased their target price on Blackstone from $141.00 to $139.00 and set a "market perform" rating for the company in a research report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Blackstone currently has an average rating of "Hold" and a consensus target price of $153.72.

Blackstone Trading Up 3.8 %

Shares of NYSE:BX traded up $4.62 during midday trading on Tuesday, hitting $124.84. 2,867,125 shares of the stock were exchanged, compared to its average volume of 3,719,196. The business's 50-day moving average price is $144.31 and its 200 day moving average price is $164.73. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.67. Blackstone has a 12 month low of $115.66 and a 12 month high of $200.96. The stock has a market capitalization of $91.06 billion, a price-to-earnings ratio of 34.35, a P/E/G ratio of 1.07 and a beta of 1.61.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The asset manager reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.13). The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter last year, the firm posted $0.98 EPS. Analysts predict that Blackstone will post 5.87 earnings per share for the current year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Blackstone

Large investors have recently made changes to their positions in the stock. Bangor Savings Bank lifted its stake in Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager's stock worth $28,000 after purchasing an additional 105 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in shares of Blackstone during the 4th quarter valued at about $28,000. Centricity Wealth Management LLC bought a new position in shares of Blackstone in the 4th quarter worth $30,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Blackstone during the 4th quarter valued at about $33,000. Finally, Berbice Capital Management LLC purchased a new stake in shares of Blackstone in the 4th quarter valued at $34,000. 70.00% of the stock is owned by institutional investors.

About Blackstone

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.