Blackstone (NYSE:BX) Price Target Lowered to $134.00 at Piper Sandler

Blackstone (NYSE:BXGet Free Report) had its price target decreased by equities research analysts at Piper Sandler from $143.00 to $134.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the asset manager’s stock. Piper Sandler’s price objective indicates a potential upside of 9.25% from the stock’s previous close.

BX has been the subject of several other research reports. JMP Securities restated a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. TD Cowen decreased their target price on shares of Blackstone from $117.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, April 19th. Morgan Stanley lifted their price target on Blackstone from $144.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. dropped their target price on Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, Argus increased their price target on Blackstone from $133.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $122.94.

Get Our Latest Stock Analysis on Blackstone

Blackstone Trading Up 1.1 %

Shares of BX stock traded up $1.37 during mid-day trading on Wednesday, hitting $122.65. The company’s stock had a trading volume of 220,122 shares, compared to its average volume of 3,417,898. The company has a market cap of $87.65 billion, a PE ratio of 43.34, a P/E/G ratio of 1.01 and a beta of 1.50. The company’s fifty day simple moving average is $122.45 and its 200-day simple moving average is $124.24. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.79 and a current ratio of 0.79. Blackstone has a 52 week low of $88.59 and a 52 week high of $133.56.

Blackstone (NYSE:BXGet Free Report) last released its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $2.56 billion. During the same quarter in the previous year, the company earned $0.97 EPS. Blackstone’s quarterly revenue was up 166.9% compared to the same quarter last year. As a group, equities research analysts expect that Blackstone will post 4.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the sale, the director now owns 921,184 shares of the company’s stock, valued at $113,305,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ruth Porat acquired 219 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average cost of $119.48 per share, with a total value of $26,166.12. Following the transaction, the director now owns 34,445 shares of the company’s stock, valued at approximately $4,115,488.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Baratta sold 116,448 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $123.00, for a total transaction of $14,323,104.00. Following the sale, the director now owns 921,184 shares in the company, valued at approximately $113,305,632. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Institutional Trading of Blackstone

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bay Rivers Group grew its stake in shares of Blackstone by 0.4% during the 1st quarter. Bay Rivers Group now owns 19,853 shares of the asset manager’s stock worth $2,608,000 after purchasing an additional 84 shares during the period. BSW Wealth Partners lifted its stake in Blackstone by 1.9% in the 1st quarter. BSW Wealth Partners now owns 4,556 shares of the asset manager’s stock valued at $599,000 after buying an additional 84 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Blackstone by 1.2% during the first quarter. Mather Group LLC. now owns 7,113 shares of the asset manager’s stock worth $931,000 after buying an additional 87 shares in the last quarter. Fragasso Financial Advisors Inc lifted its stake in shares of Blackstone by 2.7% in the second quarter. Fragasso Financial Advisors Inc now owns 3,344 shares of the asset manager’s stock worth $414,000 after buying an additional 89 shares in the last quarter. Finally, Fragasso Group Inc. grew its stake in Blackstone by 2.9% during the 1st quarter. Fragasso Group Inc. now owns 3,255 shares of the asset manager’s stock valued at $428,000 after acquiring an additional 91 shares in the last quarter. Institutional investors own 70.00% of the company’s stock.

Blackstone Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Blackstone (NYSE:BX)

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