Barclays Lowers Blackstone (NYSE:BX) Price Target to $165.00

Key Points

• Barclays has reduced its price target for Blackstone from $171.00 to $165.00, maintaining an "equal weight" rating on the stock, which suggests a potential upside of 5.37% from its previous close.
• Other firms have also adjusted their price targets, with BMO Capital Markets setting a $190.00 price objective and Piper Sandler lowering it to $173.00, reflecting varied analyst sentiment in the market.
• Despite the target adjustments, Blackstone has received an average rating of "Moderate Buy" from analysts, with a consensus target price of $182.16.

Blackstone (NYSE:BX - Get Free Report) had its target price decreased by Barclays from $171.00 to $165.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the asset manager's stock. Barclays's price target points to a potential upside of 5.37% from the company's previous close.

BX has been the subject of several other research reports. BMO Capital Markets began coverage on shares of Blackstone in a research note on Friday, October 3rd. They issued an "outperform" rating and a $190.00 price objective for the company. Piper Sandler lowered their target price on Blackstone from $181.00 to $173.00 and set a "neutral" rating for the company in a report on Thursday, October 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on Blackstone from $194.00 to $188.00 and set a "buy" rating for the company in a research note on Thursday, October 9th. TD Cowen decreased their price target on shares of Blackstone from $215.00 to $208.00 and set a "buy" rating for the company in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Blackstone from $153.00 to $167.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $182.16.

Blackstone Price Performance

NYSE BX traded up $1.62 on Friday, hitting $156.60. 460,803 shares of the company's stock were exchanged, compared to its average volume of 4,110,625. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61. Blackstone has a 52 week low of $115.66 and a 52 week high of $200.96. The stock has a market cap of $115.42 billion, a price-to-earnings ratio of 42.19, a P/E/G ratio of 1.32 and a beta of 1.77. The stock has a 50-day moving average of $170.54 and a 200-day moving average of $155.53.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data on Friday, November 22nd. The asset manager reported $0.97 earnings per share for the quarter. The business had revenue of $2.49 billion for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. Analysts expect that Blackstone will post 5.87 earnings per share for the current year.

Insider Activity

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 16,689,884 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $6.26, for a total transaction of $104,478,673.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John G. Finley sold 21,500 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $171.46, for a total transaction of $3,686,390.00. Following the completion of the sale, the insider owned 453,836 shares of the company's stock, valued at approximately $77,814,720.56. The trade was a 4.52% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders purchased 2,538,345 shares of company stock worth $65,046,628 and sold 16,984,634 shares worth $155,181,346. 1.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Blackstone

Institutional investors and hedge funds have recently modified their holdings of the business. Arcus Capital Partners LLC raised its stake in shares of Blackstone by 1.2% during the 2nd quarter. Arcus Capital Partners LLC now owns 4,937 shares of the asset manager's stock worth $739,000 after purchasing an additional 58 shares during the period. Mattern Wealth Management LLC increased its stake in shares of Blackstone by 2.8% during the 2nd quarter. Mattern Wealth Management LLC now owns 2,213 shares of the asset manager's stock worth $331,000 after purchasing an additional 60 shares during the last quarter. GHP Investment Advisors Inc. grew its holdings in Blackstone by 3.5% during the second quarter. GHP Investment Advisors Inc. now owns 1,784 shares of the asset manager's stock valued at $267,000 after purchasing an additional 61 shares during the period. Sage Rhino Capital LLC lifted its position in shares of Blackstone by 0.8% during the 2nd quarter. Sage Rhino Capital LLC now owns 8,036 shares of the asset manager's stock valued at $1,202,000 after buying an additional 63 shares during the last quarter. Finally, WNY Asset Management LLC increased its stake in shares of Blackstone by 1.7% in the second quarter. WNY Asset Management LLC now owns 3,852 shares of the asset manager's stock worth $576,000 after purchasing an additional 64 shares in the last quarter. 70.00% of the stock is owned by hedge funds and other institutional investors.

About Blackstone

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.