Blackstone Inc. (NYSE:BX) Receives $169.56 Consensus Price Target from Analysts

Blackstone Inc. (NYSE:BX) has received an average recommendation of “Hold” from the eighteen ratings firms that are currently covering the stock, Marketbeat.com reports. Twelve analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $169.56.

A number of analysts recently issued reports on BX shares. JPMorgan Chase & Co. boosted their price target on Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Evercore ISI boosted their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Cowen reissued a “hold” rating on shares of Blackstone in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their price target on Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Citigroup upped their price objective on Blackstone from $157.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th.

Insider Activity at Blackstone

In related news, insider John G. Finley sold 42,249 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value 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 trade represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Blackstone

Several large investors have recently made changes to their positions in BX. Wulff Hansen & CO. raised its holdings in Blackstone by 12,192.7% during the second quarter. Wulff Hansen & CO. now owns 7,340,845 shares of the asset manager’s stock valued at $908,797,000 after buying an additional 7,281,128 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Blackstone by 15,357.3% in the third quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock worth $6,433,220,000 after buying an additional 4,173,971 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Blackstone by 213.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,375,969 shares of the asset manager’s stock valued at $170,345,000 after purchasing an additional 937,084 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Blackstone by 468.4% in the 2nd quarter. Mackenzie Financial Corp now owns 1,107,547 shares of the asset manager’s stock valued at $137,114,000 after buying an additional 912,685 shares during the last quarter. Finally, Castleark Management LLC acquired a new stake in shares of Blackstone in the third quarter worth $67,472,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Trading Up 1.9 %

NYSE:BX opened at $180.00 on Wednesday. The business has a fifty day moving average price of $180.73 and a 200-day moving average price of $158.49. Blackstone has a one year low of $115.63 and a one year high of $200.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $129.96 billion, a price-to-earnings ratio of 61.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. Sell-side analysts forecast that Blackstone will post 4.45 EPS for the current year.

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.