Blackstone Inc. (NYSE:BX) Receives $177.25 Consensus Price Target from Analysts

Blackstone Inc. (NYSE:BX) has been assigned an average rating of “Hold” from the twenty analysts that are currently covering the stock, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $177.25.

BX has been the subject of a number of research analyst reports. Barclays dropped their target price on shares of Blackstone from $172.00 to $171.00 and set an “equal weight” rating for the company in a research report on Friday, January 9th. Keefe, Bruyette & Woods decreased their target price on Blackstone from $180.00 to $171.00 and set a “market perform” rating for the company in a research report on Monday, October 13th. BNP Paribas Exane dropped their price objective on shares of Blackstone from $167.00 to $156.00 and set a “neutral” rating on the stock in a research note on Monday, January 12th. HSBC cut their price objective on shares of Blackstone from $179.00 to $178.00 in a report on Monday, October 27th. Finally, Piper Sandler cut their price target on Blackstone from $173.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th.

Insider Transactions at Blackstone

In other Blackstone news, Director Ruth Porat purchased 324 shares of Blackstone stock in a transaction dated Monday, November 10th. The shares were bought at an average cost of $146.92 per share, for a total transaction of $47,602.08. Following the transaction, the director owned 39,077 shares in the company, valued at $5,741,192.84. This represents a 0.84% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Breyer bought 13,900 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was bought at an average price of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the purchase, the director owned 68,906 shares of the company’s stock, valued at $9,912,817.16. This trade represents a 25.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 783,978 shares of company stock worth $22,058,454 in the last quarter. Insiders own 1.00% of the company’s stock.

Institutional Trading of Blackstone

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Blackstone in the 2nd quarter worth $1,071,348,000. Vanguard Group Inc. raised its position in shares of Blackstone by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 69,492,377 shares of the asset manager’s stock valued at $10,394,670,000 after acquiring an additional 1,494,796 shares during the period. Close Asset Management Ltd increased its stake in Blackstone by 16,035.1% in the third quarter. Close Asset Management Ltd now owns 1,140,264 shares of the asset manager’s stock valued at $194,746,000 after purchasing an additional 1,133,197 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Blackstone by 31.9% in the 2nd quarter. Lazard Asset Management LLC now owns 3,803,344 shares of the asset manager’s stock valued at $568,902,000 after buying an additional 919,773 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in Blackstone by 115.4% during the second quarter. Canada Pension Plan Investment Board now owns 1,088,786 shares of the asset manager’s stock worth $162,861,000 after acquiring an additional 583,384 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Stock Down 1.0%

BX opened at $148.57 on Friday. The stock has a market capitalization of $109.71 billion, a price-to-earnings ratio of 42.45, a price-to-earnings-growth ratio of 1.06 and a beta of 1.75. Blackstone has a 12 month low of $115.66 and a 12 month high of $190.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. The business has a 50-day moving average of $152.79 and a two-hundred day moving average of $161.18.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.