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

Shares of Blackstone Inc. (NYSE:BX) have earned a consensus recommendation of “Hold” from the eighteen research firms that are presently covering the stock, Marketbeat.com reports. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $169.56.

A number of brokerages have weighed in on BX. Deutsche Bank Aktiengesellschaft increased their price target on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Piper Sandler lifted their target price on Blackstone from $168.00 to $179.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods reduced their price objective on shares of Blackstone from $175.00 to $174.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. boosted their target price on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Citigroup lifted their price target on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, October 18th.

Blackstone Trading Up 1.9 %

NYSE BX opened at $180.00 on Wednesday. Blackstone has a 12 month low of $115.63 and a 12 month high of $200.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $129.96 billion, a PE ratio of 61.86, a price-to-earnings-growth ratio of 1.02 and a beta of 1.53. The business’s 50-day moving average price is $180.68 and its two-hundred day moving average price is $157.84.

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

Insider Buying and Selling

In related news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. The trade was a 9.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Blackstone

A number of hedge funds and other institutional investors have recently modified their holdings of the business. West Financial Advisors LLC purchased a new position in Blackstone in the third quarter worth $27,000. Bangor Savings Bank boosted its holdings in shares of Blackstone by 187.5% in the 4th quarter. Bangor Savings Bank now owns 161 shares of the asset manager’s stock worth $28,000 after buying an additional 105 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Blackstone during the second quarter worth about $39,000. Raleigh Capital Management Inc. raised its position in Blackstone by 32.1% in the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the period. Finally, Kieckhefer Group LLC bought a new position in shares of Blackstone during the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 70.00% of the company’s stock.

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.