Blackstone (NYSE:BX) PT Lowered to $132.00

Blackstone (NYSE:BX) had its price objective decreased by equities researchers at Bank of America from $141.00 to $132.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. Bank of America‘s price objective would suggest a potential upside of 10.78% from the stock’s current price.

A number of other research analysts have also issued reports on BX. The Goldman Sachs Group lowered shares of Blackstone from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $115.00 to $128.00 in a research note on Wednesday, January 3rd. Piper Sandler dropped their price objective on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. JMP Securities reiterated a “market perform” rating on shares of Blackstone in a research report on Tuesday, April 9th. TheStreet downgraded shares of Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. Finally, UBS Group upped their price objective on Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Blackstone currently has an average rating of “Hold” and an average price target of $119.14.

Blackstone Stock Down 1.0 %

Shares of NYSE:BX traded down $1.17 on Friday, hitting $119.15. 1,814,772 shares of the company’s stock were exchanged, compared to its average volume of 3,696,072. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80. Blackstone has a 1-year low of $79.92 and a 1-year high of $133.56. The company has a market capitalization of $85.15 billion, a PE ratio of 65.20, a P/E/G ratio of 1.01 and a beta of 1.51. The firm’s 50-day moving average is $126.66 and its 200 day moving average is $117.66.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, April 18th. The asset manager reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the previous year, the company posted $0.97 EPS. The company’s quarterly revenue was up 166.9% on a year-over-year basis. Sell-side analysts predict that Blackstone will post 4.88 EPS for the current year.

Insider Activity at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now owns 12,802 shares in the company, valued at $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Blackstone news, insider John G. Finley sold 49,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total value of $6,268,570.00. Following the completion of the sale, the insider now owns 393,143 shares in the company, valued at approximately $50,294,783.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The disclosure for this sale can be found here. Insiders sold 2,587,168 shares of company stock worth $37,816,476 in the last quarter. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blackstone

A number of large investors have recently bought and sold shares of BX. State of Alaska Department of Revenue raised its holdings in Blackstone by 1.7% in the 1st quarter. State of Alaska Department of Revenue now owns 78,055 shares of the asset manager’s stock worth $10,254,000 after acquiring an additional 1,320 shares during the period. Carret Asset Management LLC increased its holdings in shares of Blackstone by 20.9% during the 1st quarter. Carret Asset Management LLC now owns 46,645 shares of the asset manager’s stock worth $6,128,000 after purchasing an additional 8,050 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Blackstone by 0.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,698,822 shares of the asset manager’s stock worth $223,174,000 after buying an additional 5,145 shares in the last quarter. Hedeker Wealth LLC lifted its position in shares of Blackstone by 2.7% in the 1st quarter. Hedeker Wealth LLC now owns 40,540 shares of the asset manager’s stock worth $5,326,000 after acquiring an additional 1,077 shares during the period. Finally, State of Michigan Retirement System lifted its position in Blackstone by 1.3% in the first quarter. State of Michigan Retirement System now owns 197,100 shares of the asset manager’s stock worth $25,893,000 after purchasing an additional 2,600 shares during the period. 70.00% of the stock is currently owned by institutional investors.

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.