Blackstone’s (BX) Neutral Rating Reaffirmed at UBS Group

Blackstone (NYSE:BXGet Free Report)‘s stock had its “neutral” rating reiterated by equities researchers at UBS Group in a research note issued to investors on Tuesday, MarketBeat reports. They currently have a $135.00 price target on the asset manager’s stock, down from their prior price target of $140.00. UBS Group’s price target points to a potential upside of 3.04% from the company’s current price.

A number of other equities research analysts have also commented on BX. Citigroup lowered shares of Blackstone from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $116.00 to $124.00 in a report on Friday, January 19th. Piper Sandler reiterated an “overweight” rating and issued a $150.00 price target on shares of Blackstone in a research note on Wednesday, December 20th. TD Cowen assumed coverage on shares of Blackstone in a research note on Thursday, January 4th. They issued a “market perform” rating and a $118.00 price target on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Blackstone from $123.00 to $127.00 and gave the company a “market perform” rating in a research note on Friday, January 26th. Finally, TheStreet lowered shares of Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $119.25.

Read Our Latest Stock Report on Blackstone

Blackstone Trading Down 0.3 %

Shares of NYSE BX opened at $131.02 on Tuesday. Blackstone has a twelve month low of $79.29 and a twelve month high of $133.56. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.67. The company’s fifty day moving average is $126.13 and its 200-day moving average is $116.28. The stock has a market cap of $93.63 billion, a price-to-earnings ratio of 71.60, a P/E/G ratio of 1.05 and a beta of 1.51.

Blackstone (NYSE:BXGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.16. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same period last year, the business posted $1.07 earnings per share. Equities research analysts predict that Blackstone will post 4.92 EPS for the current year.

Insider Activity

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’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 completion of the transaction, the insider now directly owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Blackstone news, insider John G. Finley sold 49,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the transaction, the insider now owns 393,143 shares in the company, valued at $50,294,783.99. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,587,168 shares of company stock worth $37,816,476. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blackstone

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Blackstone by 30.2% in the third quarter. Vanguard Group Inc. now owns 62,091,903 shares of the asset manager’s stock valued at $6,652,526,000 after acquiring an additional 14,396,655 shares during the period. Norges Bank bought a new stake in Blackstone during the fourth quarter valued at approximately $510,355,000. Moneta Group Investment Advisors LLC lifted its position in Blackstone by 96,256.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,790,996 shares of the asset manager’s stock valued at $429,634,000 after purchasing an additional 5,784,986 shares during the last quarter. International Assets Investment Management LLC lifted its position in Blackstone by 13,816.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,623,868 shares of the asset manager’s stock valued at $4,744,370,000 after purchasing an additional 3,597,828 shares during the last quarter. Finally, Lone Pine Capital LLC purchased a new position in shares of Blackstone during the fourth quarter worth approximately $290,514,000. 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.

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