Blackstone (NYSE:BX) Given New $132.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. cut its price target on Blackstone from $136 to $132 while keeping a neutral rating, implying only modest upside from the prior close.
• Other analysts remain mixed but generally constructive: Blackstone’s consensus rating is Moderate Buy, with an average price target of $146.33 despite several recent target reductions.
• Blackstone recently reported earnings that beat EPS expectations and showed 10% revenue growth year over year, helping support investor sentiment even as shares trade below their 52-week high.

Blackstone (NYSE:BX - Get Free Report) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $136.00 to $132.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the asset manager's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 2.81% from the stock's previous close.

BX has been the topic of a number of other research reports. Argus dropped their price target on shares of Blackstone from $163.00 to $146.00 and set a "buy" rating on the stock in a research note on Tuesday, April 28th. TD Cowen dropped their target price on shares of Blackstone from $140.00 to $133.00 and set a "buy" rating on the stock in a research report on Monday, May 18th. Oppenheimer upped their price target on shares of Blackstone from $154.00 to $156.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. HSBC lowered their price objective on Blackstone from $164.00 to $131.00 and set a "hold" rating on the stock in a report on Friday, April 10th. Finally, Sanford C. Bernstein began coverage on Blackstone in a research report on Monday, June 8th. They issued an "outperform" rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $146.33.

Blackstone Price Performance

Shares of NYSE:BX traded up $1.34 during trading on Thursday, reaching $128.39. 2,026,652 shares of the company's stock traded hands, compared to its average volume of 6,784,775. The firm has a market cap of $95.38 billion, a PE ratio of 32.81, a P/E/G ratio of 1.34 and a beta of 1.58. Blackstone has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The company has a 50-day simple moving average of $119.73 and a 200-day simple moving average of $126.08.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 EPS for the quarter, beating the consensus estimate of $1.34 by $0.02. The company had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.Blackstone's quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $1.11 earnings per share. As a group, analysts predict that Blackstone will post 5.89 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the sale, the insider owned 19,374 shares of the company's stock, valued at approximately $73,233.72. This trade represents a 99.74% 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. Also, major shareholder Treasury Holdings I. Blackstone acquired 9,486,795 shares of the stock in a transaction on Friday, May 15th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $189,735,900.00. Following the purchase, the insider directly owned 9,111,800 shares of the company's stock, valued at $182,236,000. The trade was a -2,529.85% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 10,252,345 shares of company stock valued at $209,789,893. Insiders own 1.00% of the company's stock.

Institutional Trading of Blackstone

Hedge funds and other institutional investors have recently modified their holdings of the business. Strive Asset Management LLC acquired a new stake in shares of Blackstone during the third quarter valued at about $30,000. Family CFO Inc purchased a new position in shares of Blackstone during the fourth quarter worth $28,000. Ares Financial Consulting LLC purchased a new stake in shares of Blackstone in the 4th quarter valued at $28,000. Richardson Financial Services Inc. acquired a new position in Blackstone in the 4th quarter valued at about $29,000. Finally, Kelleher Financial Advisors purchased a new stake in Blackstone during the third quarter worth about $34,000. 70.00% of the stock is owned by institutional investors and hedge funds.

More Blackstone News

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Several articles say Blackstone is positioned to beat next week’s earnings expectations, citing its strong history of earnings surprises and the potential for earnings growth, which supports the stock’s recent strength.
• Positive Sentiment: Blackstone announced a new APAC infrastructure platform and hired a senior executive from KKR, reinforcing its push into a high-growth area that could expand future fees and investment opportunities.
• Positive Sentiment: Recent commentary highlighted Blackstone’s scale in data centers and AI infrastructure, with investors viewing the firm as a major beneficiary of demand for digital infrastructure and related real assets.
• Positive Sentiment: Analysts remain constructive, with RBC Capital reiterating a buy rating and recent price targets implying more upside, helping sentiment ahead of the earnings report.
• Neutral Sentiment: Additional articles framed Blackstone as a dividend and real estate/infrastructure “crossroads” story, but these were more opinion-driven than immediate market-moving catalysts.
• Neutral Sentiment: The TechCrunch piece about Blackstone’s partnership with Anthropic on AI implementation underscores a strategic growth theme, but it is still early-stage and not yet a near-term financial driver.

About Blackstone

Blackstone Inc NYSE: BX is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone's business is organized around several principal investment platforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.