Blackstone (NYSE:BX) PT Raised to $135.00 at Argus

Blackstone (NYSE:BX) had its price objective increased by analysts at Argus from $133.00 to $135.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. Argus’ price objective would suggest a potential upside of 9.52% from the company’s current price.

BX has been the topic of several other research reports. JPMorgan Chase & Co. reduced their price objective on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Keefe, Bruyette & Woods boosted their price objective on shares of Blackstone from $123.00 to $127.00 and gave the stock a “market perform” rating in a research note on Friday, January 26th. UBS Group boosted their price objective on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. TheStreet cut shares of Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. Finally, Bank of America cut their price target on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Blackstone currently has a consensus rating of “Hold” and an average target price of $123.65.

Blackstone Stock Performance

NYSE BX opened at $123.27 on Wednesday. The firm’s fifty day moving average price is $126.08 and its two-hundred day moving average price is $118.27. The stock has a market cap of $88.09 billion, a PE ratio of 43.56, a PEG ratio of 1.03 and a beta of 1.51. Blackstone has a fifty-two week low of $79.92 and a fifty-two week high of $133.56. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 0.79.

Blackstone (NYSE:BX) last posted its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.98. Blackstone had a net margin of 20.84% and a return on equity of 17.33%. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The company’s revenue was up 166.9% on a year-over-year basis. On average, equities analysts expect that Blackstone will post 4.77 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction dated 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 owns 12,802 shares in the company, valued at approximately $142,102.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 49,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $127.93, for a total transaction of $6,268,570.00. Following the completion of the sale, the insider now directly owns 393,143 shares of the company’s stock, valued at $50,294,783.99. The disclosure for this sale can be found here. Insiders have sold 2,587,168 shares of company stock worth $37,816,476 in the last quarter. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Northwest Financial Advisors bought a new position in shares of Blackstone during the 4th quarter valued at approximately $25,000. Bourgeon Capital Management LLC grew its position in shares of Blackstone by 86.2% during the 4th quarter. Bourgeon Capital Management LLC now owns 216 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 100 shares during the period. Roble Belko & Company Inc bought a new position in shares of Blackstone during the 4th quarter valued at approximately $30,000. Advantage Trust Co bought a new position in shares of Blackstone during the 4th quarter valued at approximately $30,000. Finally, Exchange Traded Concepts LLC grew its position in shares of Blackstone by 763.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 233 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 206 shares during the period. 70.00% of the stock is 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.